A loan of 80000 at 8% for is to be paid o by annual payments of interest each year for 12 years, with a lump sum of 80000 also to be paid at the end of year 12. The borrower can aford 9000 per year to pay the interest and build up enough to help pay the lump sum. He pays the interest each year and places the remainder in a sinking fund earning 7% per year. At the end of 12 years, he has to borrow more money to pay off the original loan. How much does he have to borrow at the end of 12 years to pay off the first loan.