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2 January, 07:04

A lender lends $18,600, which is to be repaid in annual payments of $3100 for 6 years. Which of the following shows the timeline of the loan from the lender's perspective?

A) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

-$18,600 $3,100 $3,100 $3,100 $3,100 $3,100

B) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

0 $3,100 $3,100 $3,100 $3,100 $3,100

C) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

-$18,600 $3,100 $3,100 $3,100 $3,100 $3,100 $3,100

C) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

-$18,600 $3,100 $6,100 $8,100 $8,100 $9,100 $10,100

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Answers (1)
  1. 2 January, 10:01
    0
    The correct option is option C

    $18,600 $3,100 $3,100 $3,100 $3,100 $3,100 $3,100

    Explanation:

    Year0 - $18600

    Year1 - $3100

    Year2 - $3100

    Year3. $3100

    Year5. $3100

    Year6. $3100

    That is the timeline of the loan from the lender's perspective.
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