On January $1,2023,$ a company acquired P$4,000,000$ bonds with a $10\%$ interest rate. These bonds reach maturity on December $31,2025,$ with an effective interest rate of $7\%.$ The quoted prices for the bonds were $95$ on December $31,2023,$ and $85$ on December $31,2024.$

I just have a question about this problem: how will you compute the present value of interest if it is not specified when the interest payment occurs?

Also, if you have time, could you create an amortization table for this problem so I can double$-$check my answers? Thank you so much!

subject: accounting