Aqil runs a small business which produces sausage specifically made from ayam kampung $($village chicken$).$ When he started his business and did not have much capital, he rented two processing machines from a machine seller. By this, Aqil paid the cash down payment and continued to pay rent to the seller in monthly installments, for a period of $4$ years mutually agreed upon. In the fifth year now, when Aqil has paid the FULL amount of the machine, the machine is now owned by Aqil. It is his asset now.

Which of the following explains the financing method used by Aqil?

Select one:

A$.$

Hire purchase

B$.$

Term loan

C$.$

Credit Guarantee Scheme

D$.$

None of the above