Choose one option, please explain why.

The speculative borrower: is able to pay back interest and principal with cash flows from investments. is able to pay back interest with cash flows from investments but not the principal. The borrower must regularly rollover the principal. is able to pay back interest with cash flows from investments but not the principal. They borrow on the belief that the appreciation of the asset's value will be sufficient to refinance the deb. borrows for the purposes of speculating on financial markets