A person borrows $35,000 at an interest rate of 9%. He was offered to repay his loan with one of the 3 following methods 1. Pay the accumulated interest at the end of each year and repay the principal at the end of 5 years. 2. Pay equal end of year payments for 5 years 3. Make a single payment of principal and interest at the end of the loan payment. If the borrower's time value of money is 12%, the best method for him would be; Method 1 Method 2 Method 3 None of them