Answer:
Ans. the annual payment will be $6,038.42, applied to interest $1,600, applied to principal $4,438.42
Step-by-step explanation:
Hi, in order to find the amount to be paid for 4 years, we need to use the following formula.

Where:
r= interest rate
n= periods of periodic payment
A= periodic payments
Present Value= amount of money of the loan
Everything should look like this.




Now, in order to find the amount paid in interest for the first payment, we just multiply 20,000*0.08= 1,600
And the amount paid to principal is just the payment - interest, that is:
$6,038.42 - $1,600 = $4,438.42
Best of luck.