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.