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You have just taken out a five-year loan from a bank to buy an engagement ring. The ring costs $5,500. You plan to put down
You have just taken out a five-year loan from a bank to buy an engagement ring. The ring costs $5,500. You plan to put down $1,200 and borrow $4,300. You will need to make annual payments of $1,100 at the end of each year. Show the timeline of the loan from your perspective. How would the timeline differ if you created it from the bank's perspective? O A. Year 0 5 $5,500 - $1,100 - $1,100 - $1,100 - $1,100 - $1,100 Cash Flow O B. Year $4,300 - $1,100 - $1,100 - $1,100 - $1,100 - $1,100 Cash Flow OC. Year 0. Cash Flow - $4,300 OD. Year 0 $1,100 1 $1,100 2 $1,100 3 $1,100 4 $1,100 5 Cash Flow - $1,200 $1,100 $1,100 $1,100 $1,100 $1,100
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