P = $50,000  
r = 8.77% = 0.0877  
n = 7

MYR = P × r / (1 − (1 + r)^−n)

MYR = 50,000 × 0.0877 / (1 − (1.0877)^−7)  
MYR = 4,385 / 0.4448170755  
MYR = $9,857.98

Minimum yearly repayment for the first year: **$9,857.98**

Controlling authority: **Income Tax Assessment Act 1936 (Cth), Division 7A, section 109E**, particularly **subsection 109E(6)**.