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 down $1,000 and borrow $4,000.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?

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Part 1

Show the timeline of the loan from your perspective.