1. Date (Years) 0 1 2 3

Cash Flow -$20000 $8000 $8000 $8000

The timeline above best describes the cash flow of which of the following people:

1. John borrows $20000 and pays back the loan in three annual payments of $8000
2. Mike puts down $20000 to buy a car and then makes three annual payments of $8000
3. Mary loans her sister $20000, which her sister pays back in three annual installments of$8000
4. Linda borrows $20000 and then receives three annual payment of $8000