You take out a loan for RM2,000,000 that will be disbursed to you in three payments. The first payment of Bit/1,000,000 is made immediately and is followed six months later by a payment of RM500,000 and then six months after that by another payment of Elk/[500,000. The interest on the payments is calculated at a nominal rate of interest of 26.66%, convertible semi-annually. After two years, you replace the outstanding loan with a 30-year loan at a nominal rate of interest of 12%, convertible monthly. The amount of the monthly payments for the rst ve years on this loan will be one-half of the monthly payment required after 5 years. Payments are to be made at the beginning of each month Calculate the amount of the 12th repayment