Show the timeline of the loan

Reference no: EM1349591

The timeline...

1. You have just taken out a five-year loan from a bank to buy an engagement ring. The ring costs $5,000. You plan to put $1,000 down and borrow $4,000. You will need to make annual payments of $1,500 at the end of each year. Show the timeline of the loan from your prospective.

How would the timeline differ if you created it from the bank's perspective?

Reference no: EM1349591

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