Label each scenario below according to the type of financial asset described.

Caleb has completed a prototype garlic peeling device that he hopes to sell to the public. Caleb decides to have his startup issue securities that offer buyers the promise to pay a specified amount of interest each year plus the principal in five years.

Audrey wants to buy a new car but does not have enough cash. She gets funding from her local bank with the promise that she'll make monthly payments for the next three years to repay the original amount lent to her plus 6% interest.

Lyle and Shane start a business selling pencil sharpeners to elementary schools. Their company becomes an instant success, and they decide to allow people to start buying a small share of their company. This gives individuals who buy shares the right to vote in company decisions and a small percentage of profits.

Rand Capital Corporation, a financial industry conglomerate, pools together several hundred home mortgages and sells shares in them to groups of investors. However, many investors decide against this option because of the risk involved and the difficulty of assessing the quality of such a large number of individual mortgages.

Jack decides to build a chateau in the mountains of Colorado and operate it as a ski resort. He secures funding from a local commercial bank after discussing his business plan with the bank. He promises to pay back the principal plus interest over the next twenty years.

Bond is a type of loan or a financial instrument through which large corporations or Government Institutions borrow money from the public with the aim of paying with a fixed interest rate in a given period.

A Loan is amount requested by an organisation from a financial institution with the aim of paying back with some percentage of interest over a given period of time.

Stocks are also known as shares which forms parts of a particular Company sold to the public with the aim of raising capital, SHARES OR STOCK HOLDERS HAVE CERTAIN RIGHTS TO DIVIDEND AND VOTING TO REPLACE BIARD NENBERS ETC WHEN THE NEED ARISE IN THE ORGANISATION.