PV=1 PV=PMT(i1(1+i)n) SUNLAND CARS CO. Bond Premium Amortization Table Effective Interest Method-Annual Interest Payments 5% Bonds Issued at market rate of 4% Date Interest Payment Jan. 1,2024 Jan. 1, 2025 Jan. 1, 2026 Jan. 1, 2027 Jan. 1, 2028 Jan. 1, 2029 Interest Expense Premium Amortization Bond Carrying $ Sunland Cars Co. issued \$1.74 million of 5\%, 5-year bonds on January 1, 2024. The bonds were dated January 1 and pay interest annually. The bonds are secured with real estate holdings. The market interest rate was 4% for these bonds. Sunland has a calendar year end. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1
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