can I get an explanation on the following problem? and is there a way to solve this using a financial calculator?

1. Peter borrowed $20,000 from a local bank to fund the start-up of a new business.The loan is a level-payment amortized loan to be paid off over 5 years.Payments will be made at the end of each year and the interest rate is 12 percent.What will be the loan balance after the first payment is made?