Giovanna will be borrowing $100,000 today to open her own business, and she will pay it back with 20 yearly payments starting one year from today. If the effective annual interest rate is 12%, how much will the final payment be if the amount of principal reduced each year is constant?

Select one:

a. $13,000

b. $10,000

c. $5,000

d. $5,600

e. $17,000