Bond Amortization Schedule Th e following is a partially completed amortization schedule prepared for the Liggett Company to account for its three-year bond issue with a face value of $50,000. Th e schedule covers the fi rst three semiannual interest payment dates. Amounts are rounded to the nearest dollar. Compute the missing numbers

year	ineterest paid	bond expense	premium amortized	bonds payable carrying amount
0				$52,537
1/2	(1)	$2,627	(2)	52,164
1	$3,000	(3)	$392	(4)
1 1/2	(5)	(6)	(7)	(8)

I just dont understand how to calculate the effective semiannual interest rate.

could you add some more information about calculating the effective interest rate in this chapter?