Provide a short response to the following statement: How can time value of money principles help us understand what happens when we borrow money? It could help us in three aspects: The first aspect is understanding where we are financially. When borrowing money, these principles help us see the financial present and future of our account and know how factors such as time and the interest rate applied in the exercise of the formulas affect us, and the second aspect is amortization, now that we know the amount of the payment periods we can create an amortization table and see how the loan acts in addition to that we would see other points such as interest and principal payment and the third aspect is the extra payments, already having an amortization table we could also see how the extra payments would affect the loan balance and its impact during the time of each period