Penalties for late submission: If you handed in late, you would get 20 points deductions. Make sure you put the deadline in your diary and stick to them Problem 1 1. Determine the price of a $1 million bond issue under each of the following independent assumptions: Maturity Interest Paid 1. 10 years Annually 2. 10 years Semiannually | 10 years | Semiannually (July | Sated Rate Effective (market) Rate 10% 10% 12% 12% 12% 10% | 1 and January 1) 4 20 years Semiannually 12% 10% 5. 20 years Semiannually 12% 12% 2. Prepare the journal entries to record the issuance for each of the following the above independent assumptions. 3. Only for Assumption 1 and 2, prepare an amortization schedule that determines interest at the effective rate