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On January $1,2024,$ Coney Island Entertainment issues $$1,100,000$ of $7\%$ bonds, due in $20$ years, with interest payable semiannually on June $30$ and December $31$ each year.

Assume that the market interest rate is $7\%$ and the bonds issue at face amount.

Required:

$1$a$.$ Calculate the issue price of a bond.

$1$b$.$ Complete the first three rows of an amortization schedule. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

Complete this question by entering your answers in the tabs below.

Calculate the issue price of a bond.

Issue price