A company borrows $$70,000$ by signing a $$70,000,8\%,6-$year note that requires equal payments of $$15,142$ at the end of each year. The first payment will record interest expense of $$5,600$ and will reduce principal by:

$$5,600$

$$21,142$

$$9,542$

$$15,142$

Many bonds are $q,$ which reduces the holder's risk by requiring the issuer to set aside assets at specified amounts and dates to repay the bonds.

secured

term

convertible debt

sinking fund bonds