Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "Loan" worksheet. The PMT function was used in cell B5. Which of the following statements is TRUE about the PMT function created in cell B5? (hint: you may want to review Table 5.2 within the textbook reading and Step #42 for DA Exercise #2) Responses The [type] argument is assumed to be 1 which means that the monthly payment is made at the end of the month. The [type] argument is assumed to be 0 which means that the monthly payment is made at the end of the month. The [type] argument is assumed to be 0 which means that the monthly payment is made at the beginning of the month. The [type] argument is assumed to be 1 which means that the monthly payment is made at the beginning of the month. The amount borrowed decreases