please explain

On January 1, 2017, Swiftx Company sold 9% bonds having a maturity value of $500,000, which provides the bondholders with a 7% yield. The bonds are dated January 1,2017 , and mature January 1, 2022 (5 year bonds), with interest payable December 31 of each year (annual bonds). Swifty Company allocates interest and unamortized discount or premium on the effective-interest basis. Prepare a schedule of interest expense and bond amortization for 2017-2021. You'll need to calculate the issue price of the bonds to fill in for the 1/1/17 carrying value