Face Value 20,000 Year CFs

Maturity Time 5 1 3000

Coupon Rate 15% 2 3000
RR 12% 3 3000
4 3000
5 3000
5 20,000

Present Value

Premium
Year
Amount
1 2678.5714286
2 2391.5816327
3 2135.3407434
4 1906.5542352
5 1702.2805672
 Conversion
DCF @ 17%
Amount
0.89285714286
0.79719387755
0.71178024781 10814.32861
0.6355180784
0.56742685572
0.56742685572 11348.53711

Present Value 22162.86572

 Face Value 20,000 Year CFs
Maturity Time 5 1 3000
Coupon Rate 15% 2 3000
RR 12% 3 3000
4 3000
5 3000
5 20,000
 Premium Conversion
DCF @ 17%
Amount Amount
0.892857143 2678.571429
0.797193878 2391.581633
0.711780248 2135.340743 10814.32861
0.635518078 1906.554235
0.567426856 1702.280567
0.567426856 11348.53711

Intrinsic Value 22162.86572

Maturity Value 21,702

 Face Value 20,000 Year CFs

Maturity Time 5 1 3000

Coupon Rate 15% 2 3000
RR 17% 3 3000
4 3000
5 3000
5 20,000
 Premium Conversio
DCF @ 17%
Amount n Amount

0.854700855 2564.103
0.730513551 2191.541
0.624370556 1873.112 9598.038
0.533650048 1600.95
0.456111152 1368.333
0.456111152 9122.223

Intrinsic Value 18720.26

Maturity Value 21,368