The Denise and Dennis have a 20 -year home loan since the start of 2015 for a house in Riviersonderend. The size of the loan was R830 000 and the interest rate was \( 12.5 \% \) p.a. compounded monthly. Assume that she paid, every month, the minimum required instalment from the start. Assume that it is today Friday, April 19, 2024.
1. What was the balance on that loan account at the end of the first 13 years?
2. Determine the interest paid on the loan over the first 13 years.