Assume a farmer takes out a five year loan for $50,000. The annual interest rate is 4% and the farmer will make equal total annual payments for years one through five with a 25% balloon payment at the end of year five. What is the approximate total amount that will be repaid over the life of the loan? Round all numbers to the nearest whole dollar.

A. 53,000

B. 50,000

C. 57,120

D. 56,160