You have borrowed a loan of $20,000 from Chase to buy a car. You have promised Chase to make mortgage style payments in each year. If you want to borrow this loan for one year and the interest rate is 2.5% every year, what is the total payment in year one? Select one: a. $21,500.00 b. $20,500.00 c. $15,000.00 d. $ 25,000.00 e. None of the above