Which of the following statements is true?

a. When someone invests only their own money, they cannot lose more than that amount.

b. When someone borrows money to invest, they can lose more than their initial investment.

c. The greater the extent of leverage in an investment, the greater the potential for both profit and loss.

d. When home prices decline, borrowers with low down payments may end up with negative equity.

e. All of the above are true.