Problem:
You currently have a one-year-old loan outstanding on your car. You make monthly payments of $350. You have just made a payment. The loan has four years to go (i.e., it had an original term of five years.) Show the timeline from your perspective. How would the timeline differ if you created it from the banks' perspective? (It's a 2-part question. Please draw the 2 timelines) Explain comprehensively and justify your answer.