Suppose that you want to purchase some land to build a homestead in the future. You can afford payments of $$5,000$ each year and want to pay the loan back over the next $20$ years. Assuming no down payment is required, how much can you borrow if the bank will charge you an annual interest rate of $12\%?$

$$ $$100,985\mathrm{.}45$

$$48,231\mathrm{.}47$

$$37,347\mathrm{.}22$

$$ $$160,262\mathrm{.}21$