2 credit unions offer 29-year loans. Credit union 1's loan is an amortized loan that charges a nominal interest rate of 3.2% convertible monthly. Credit union 2's loan is paid by the sinking fund method, using monthly interest payments and monthly payments into the sinking fund. The interest on the loan is nominal 3.6% convertible monthly and the interest in the sinking fund is nominal 3% convertible monthly. a) Determine which loan to choose if you borrow $600,000 for a home. b) If someone is deemed a higher credit risk so when they took out a $600,000 loan at credit union 1, their interest rate was, instead, 5% convertible monthly. Find the interest and principal paid in the 90th payment at the first union. Also, determine the amount of this person's final payment and state whether it is a balloon, drop, or level payment.