please walk me through whole questiom

1) On January 1, a company borrowed $70,000 cash by signing a 9% installment note that is to be repaid with 4 equal year-end payments of $21,607. The amount borrowed is $70,000 and 4 years of interest at 9% equals $25,200, for a total of $95,200, yet the total payments on the note amount to only $86,428. Explain. Explain the present value concept as it applies to long-term liabilities. What is a lease? Explain the difference between an operating lease and a finance lease. Identify the advantages and disadvantages of bond financing