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You must incorporate as many formulas as necessary so that the worksheet automatically updates when the market rate of interest is changed. Your Excel spreadsheet should work whether your bond results in a discount or premium. I should be able to manipulate certain data, for example, if I change the present value rates or market rate of interest rate, the formulas should still work correctly when determining the present value of the bond. On January 1, 2018, Raymond Corporation sold 4% bonds having a maturity value of $5,000,000. The market yield for bonds of similar risk and maturity is 5%. The bonds are dated January 1, 2018, mature on January 1, 2021, and pay interest on June 30 and December 31 of each year.

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