Snick's Board Shop is considering several alternative means of financing an expansion

Snick's Board Shop is considering several alternative means of financing an expansion. One alternative is to borrow $65,000 from a local bank, but another alternative is to borrow this amount from investors by issuing bonds. Both alter- natives involve a 2-year debt period with monthly payments. Modify the work- book ch5-07 to compute a loan and bond analysis, naming and formatting cell ranges as appropriate. Assume an initial loan rate of 6 percent, an initial bond stated rate of 6 percent, and a market interest rate of 5.5 percent.