Record bonds issued at a premium and related annual interest (LO9-5). On January 1, 2021, White Water issues $580,000 of 5% bonds, due in 15 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 4%, the bonds will issue at $644,484.
Required:
1. Complete the first three rows of an amortization schedule.
2. Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

Yes it's true they get dissatisfied

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