2. prepare a depreciation schedule for six years using the double-declining-balance method. (do not round your intermediate calculations.)

Depreciation schedules

Explanation:

Let's suppose the asset value is $50.000 and the salvage value is $5.500

If there weren't salvage value, the depreciation at sixth year would be $2195 based in the book value at beginning the last year, and this would be the schedule with a default salvage value of $4.390

With the salvage value, the depreciation at last year would be the salvage value less the book value at sixth year ($1084)

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