is this correct?

You have borrowed a loan of $20,000 from a bank to buy a car from Chase at the interest rate of 7.5% each year. You have promised Chase to make annual mortgage style payments. If you want to borrow this loan for one year, what is the interest payment? Select one: a. $21,500.00 b. $20,000.00 c. $1,500.00 d. $7,690.25 e. None of the above Clear my choice