We spent a considerable amount of time covering 4 loan repayment plans: Equal Principal Payment Loan Equal Total Payment Loan Balloon Payment Loan with Equal Total Payment a. Describe each type of loan as if you were a loan officer and you were letting a potential client know their options. 6 pts b. What loan is the cheapest loan? Why? 3 por What loan is the "costliest" loan? Why? 3 pts Q2 What does the time value of money state? c) Why is this an important concept in farm business management? 5 pts OL Owner Equity W Owner equity is a source of capital for a business. What are two ways you can increme owner equity in a Outside equity is a source of capital for a business. What are two examples of outside equity entributie to capital po 4. Credit is a source of capital for a busine. Explain what credit is. I po 04. pero Explain the purpose of the balance sheet What are the main components of the hulumee sheet and what information does the balance sheet provide sph Explain the purpose of the income statement. What are the main components of the income statement and what information does the income statement provide 3 Explain the purpose of the cash flow statement. What are the main compotheca flow statement and what information does the cash flow statement provided