Priya takes out a loan from the Deep Bay Bank for $30,000 to buy a new Prius. The interest rate changed is j26 = 7.54% p.a. The loan is to be repaid over 4 years with the first payment due in a fortnights time. The terms of the loan are that it is an interest only loan for the first year (first 26 payments), at which time it converts to a fully amortized P&I loan.

a) Illustrate all the cash flows associated with this scenario as a fully labelled timeline diagram.