Please thoughtfully respond to the reflection prompts. Please write at least three

sentences.

Jeff is short of cash and needs to cover his monthly bills. He has a beautiful

Gibson guitar, so he decides to take it to a pawn shop. The pawn broker gives Jeff

$$400$ and keeps the Gibson. The Broker and Jeff sign a security agreement and the

terms are that Jeff must repay the $$400,$ plus interest, in $30$ days, or the pawn

broker will put the Gibson up for sale. Is the pawnbroker's interest perfected? If

so$,$ by which method$($s$)?$ Why?