1) A bank makes a 20 year/$20,000 loan with annual interest rate i = 4%, which is to be paid off by paying $1,000 in principle and the year's interest at the end of each year. Write the formula for the total payment K4+1 at the end of each year, and check that the loan present value is $20,000 by taking the present value of these loan payments. 1) A bank makes a 20 year/$20,000 loan with annual interest rate i = 4%, which is to be paid off by paying $1,000 in principle and the year's interest at the end of each year. Write the formula for the total payment K4+1 at the end of each year, and check that the loan present value is $20,000 by taking the present value of these loan payments