A lender lends $10,100, which is to be repaid in annual payments of $2070 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
-$10,100 $2070 $2070 $2070 $2070 $2070
B)
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
0 $2070 $2070 $2070 $2070 $2070
C)
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
-$10,100 $2070 $2070 $2070 $2070 $2070 $2070
D)
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
-$10,100 $2070 $4070 $6070 $8070 $10,070 $12,070
Answer: C
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