I need help with excel please is their a way to do it with out? Champs $1,200,00

Question

I need help with excel please is their a way to do it with out?

Champs $1,200,000 of the bonds. Champs Ltd. amortizes bond discount by the effective-interest method. The semiannual interest dates are June 30 and December 31 1. Use the PV function in Excel® to calculate the issue price of the bonds 2. Prepare a bond amortization table for the first year of the bonds. 3. Record issuance of bonds payable on December 31, 2016, the first semiannual interest payment on June 30, 2017; and the second payment on December 31 2017 Requirement 1. Use the PV function in Excel The issue price of the bonds is s l to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar)

Explanation / Answer

You can calculate price using PV function of Excel. Its parameters are as follows

Nper =10*2=20(because interest is compounded semi annually)

Rate =6%/2=3%

Pmt=1200000*2%/2=12000

FV=1200000

Now apply formula

=-PV(3%,20,12000,1200000)

Now press enter you will get answer as

$842940.60 =$842941

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