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Computing bond issue price and preparing amortization table

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Computing Bond Issue Price and Preparing an Amortization Table in Excel On January I, 2017, Springfield Inc. issues $400,000 of 8% bonds that pay interest semiannually and mature in 10 years (December 31, 2026).

Question a. Using the Excel PRICE function, compute the issue price assuming that the bonds' market rate is 7% per year compounded semiannually. (Use 100 for the redemption value to get a price as a percentage of the face amount, and use 1 for the basis.)

Question b. Prepare an amortization table in Excel to demonstrate the amortization of the book (carrying) value to the $400,000 maturity value at the end of the 20th semiannual period.

Reference no: EM132497024

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