Stephens Security Has Two Financing Alternatives: (1) A Publicly Placed $50 Million Bond Issue. Issuance Costs Are $1 Million, The Bond Has A 9% Coupon Paid Semiannually, And The Bond Has A 20-year Life. (2) A $50 Million Private Placement With A Lar?


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Anonymous Profile
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Option#1 Option#2
Number of Periods (nper) 40 20
Coupon Payments (pmt) 2,250,000 4,625,000
Net Proceeds of Bond (PV) 49,000,000 49,500,000
Face Value of Bond (FV) 50,000,000 50,000,000

Yield to Maturity 4.61%

Bond Equivalent Yield 9.43% 9.36%

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