amortization schedule. chuck ponzi has talked an elderly woman into loaning him $40,000 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 $40,000 with an annual interest rate of 12% 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.

1. If Chuck chooses the interest-only loan, what is the ending balance of the interest-only loan in years 1 ,2,3,4 and 5 ? (rounded to the nearest cent)

2. If Chuck chooses the fully amortized loan, what is the ending balance of the interest-only loan in years 1 ,2,3,4 and 5 ? (rounded to the nearest cent)

3.Which loan is the best loan to choose .

Please show explanations. thx