Final answer:
A bond is similar to a bank loan in terms of borrowing money and making interest payments, but there are also differences such as the issuer and predetermined terms.
Step-by-step explanation:
A bond is similar to a bank loan in that both involve borrowing money and making periodic interest payments. However, there are also differences between the two. For example, a bond is typically issued by a corporation or government entity, while a bank loan is obtained from a financial institution. Additionally, the terms and conditions of a bond, such as the interest rate and maturity date, are predetermined, whereas a bank loan may have more flexible terms negotiated between the borrower and lender.