Identify and describe three different types of long$-$term debt instruments that businesses use.

What are the key features that distinguish one type of debt from another?

Why do companies choose to utilize long$-$term debt? How can long$-$term debt be strategically employed for financing operations, expansions, or capital expenditures?

Considering the interest rates in today's market, how can changing interest rates impact a company's ability to repay its debt while continuing to run the day$-$to$-$day business?