Ramry bought a piece of land for RM30,460.16. he made a down payment of RM10,000 and the balance was financed through a bank. He had to pay RM400 per month to settle the loan.

(a) If the bank charges 12% compounded monthly, determine the number of payments that will settle the loan.

(b) After paying the first 47 monthly payments, Ramry settled the loan by making a final payment on the 48th payment. Find the value of this payment. Compute the total interest that he needs to pay.