Bond Details Date 1/1/2020 Face Value $ 120,000.00 Contract Rate 12% Effective Rate 10% Life (years) 7 Payments per Year 2 Amoritiza Bond Calculations Present Value 5 131,878 Future Value 5 120,000 Payment 5 7,200 tion of Bond Bond Discount Carrying Date Interest Payment Interest Expense Discount Balance Value 1/1/2020 5 7,200 5/30/2020 5 7,200 12/31/2020 $ 7,200 5/30/2021 5 7,200 12/31/2021 $ 7,200 5/30/2022 5 7,200 12/31/2022 5 7,200 5/30/2023 5 7,200 12/31/2023 5 7,200 5/30/2024 5 7,200 12/31/2024 5 7,200 5/30/2025 5 7,200 12/31/2025 5 7,200 5/30/2025 5 7,200 12/31/2025 5 7,200