Question: Using the hypothetical bond example provided below, create an effective interest amortization table in Excel for the entire life of the bond using the following

Using the hypothetical bond example provided below, create an effective interest amortization table in Excel for the entire life of the bond using the following columns: payment number, payment date, beginning carrying value, effective interest rate, interest expense, cash (interest) paid, discount/premium on bond payable (amortization amount), and ending carrying value. (use normal Excel calculations and formulas)

Hypothetical example:

$10,000,000, 4% bond
Issued on 1/1/14
Matures in 10 years
Semiannual interest payments on 6/30 and 12/31 of each year
Market rate for bonds of this type was 6% at the time of their issue

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