Amortization schedule.$$Chuck Ponzi has talked an elderly woman into loaning him $$$$15$ comma $000$ for a new business venture. She$$ has, however, successfully passed a finance class and requires Chuck to sign a binding contract on repayment of the $ $15$ comma $000$ with an annual interest rate of $11\%$ over the next $5$ years. Ponzi may choose to pay off the loan early if interest rates change during the next $5$ years. Determine the ending balance of the loan each year under the three different payment$$ plans:

a$.$ the discount loan

b$.$ the$$ interest$-$only loan

c$.$ the fully amortized loan.

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Part $1$

a$.$If Chuck chooses the discount$$ loan, what is the ending balance of the discount loan in year$1?$

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enter your response here$($Round to the nearest$$ cent.$)$