**Minimum Yearly Repayment Calculation:**
*   **P** (Loan balance) = $50,000
*   **r** (Benchmark interest rate) = 8.77% or 0.0877
*   **n** (Remaining term) = 7 years

MYR = P * r / (1 - (1 + r)^-n)
MYR = 50,000 * 0.0877 / (1 - (1 + 0.0877)^-7)
MYR = 4,385 / (1 - 1.0877^-7)
MYR = 4,385 / (1 - 0.555182967...)
MYR = 4,385 / 0.444817033...
MYR = $9,857.99

**Minimum Yearly Repayment:** $9,857.99

**Controlling Authority:** 
Australian Taxation Office (ATO)