The XYZ Company has borrowed $100,000. Payments will be made over a four-year period (first payment at the end of the first year). The bank charges interest of 0.20 per year.

a. The annual payment will be ________.

b. The debt amortization schedule is Amount owed (beginning of period) Interest Principal 1 $100,000 2 3 4

c. If there are five payments with the first payment made at the moment of borrowing, the annual payment will be ________.