20. In order to purchase his home, Oscar Summers borrowed $32,000 from the bank at a rate of 10% and must repay it in 3 equal installments at the end of each of the next 3 years. How much interest did he pay in the first year? O a) $2,500 b) $5,200 c) $3,200 d) $4,500 e) $4,800