Charlie takes out a loan of $300,000 that charges 5% convertible quarterly. The loan terms specify that it will be paid back by making payments at the end of each quarter of $12,000. Find the following:

- Find the term of the loan Y and the amount of the final payment made at time Y.

- Find the amount of the last payment if the last payment is a drop payment.

- Find the amount of the last payment if the last payment is a balloon payment.