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 5 years and the interest rate is 0% (no interest) every year, what is the total payment in year one?

Select one:

a. $4,500.00

b. $4,000.00

c. $5,000.00

d. no enough information

e. None of the above