OPTION A

Year 0 1 2 3
Principal IDR 1,000,000,000
Commision Rate p.a. 2.0% 2.5% 2.5%
Interest Rate p.a. 8.0% 8.0%
Discount upfront 20%
Commission IDR 20,000,000 - 25,000,000 25,000,000
Interest IDR - - 80,000,000 80,000,000
Discount IDR 200,000,000
Annual Cost IDR 220,000,000 - 105,000,000 105,000,000
Total Cost IDR 1,430,000,000
Money DAP can use IDR 780,000,000
Annual Cost to DAP p.a. 22.39%
Investor Interest rate p.a. 13.19%

OPTION B
Year 0 1 2 3
Principal IDR 4,500,000,000
Commision Rate p.a. 2.0% 3.5% 3.5%
Interest Rate p.a. 9.0% 9.0%
Discount upfront 20%
Commission IDR 90,000,000 - 157,500,000 157,500,000
Interest IDR - - 405,000,000 405,000,000
Discount IDR 900,000,000
Annual Cost IDR 990,000,000 - 562,500,000 562,500,000
Total Cost IDR 6,615,000,000
Money DAP can use IDR 3,510,000,000
Annual Cost to DAP p.a. 23.52%
Investor Interest rate p.a. 13.83%

OPTION C
Year 0 1 2 3
Principal IDR 10,000,000,000
Commision Rate p.a. 3.0% 4.0% 4.0%
Interest Rate p.a. 10.0% 10.0%
Discount upfront 20%
Commission IDR 300,000,000 - 400,000,000 400,000,000
Interest IDR - - 1,000,000,000 1,000,000,000
Discount IDR 2,000,000,000
Annual Cost IDR 2,300,000,000 - 1,400,000,000 1,400,000,000
Total Cost IDR 15,100,000,000
Money DAP can use IDR 7,700,000,000
Annual Cost to DAP p.a. 25.17%
Investor Interest rate p.a. 14.47%