how to find effective interest by using excel function?

Chapter 14 handout (1) A Home Insert Tell me De View Page Layout Formas Date Review 012 N 10, 2011, Sunland Company wed 125 and with a par value of 5770,000 doe in 20 years. They were inced 6 and were callable at 103 at any date the June 30, 2019. Hecause of lower interest rates and a significant change in the any's credit rating, it was decided to call the entire se on June 30, 2020, and to issue new bonds. New 10% bonds were a the amount of 1,000,000 at 100, they mature in 20 yean, Sunland Company uses the effective interest method to ont for the bonde. Interest payment dates are December 31 and June 30, 10 770.000 1294 20 years 9 754.500 6.149 11 12 Original Bond issue 13 Par value of bonde 14 Surted interest rate 15 Teem 16 Imed at 17 Issue Price $ 18 ffective Interest rate 19 ctions: 20 the joumal entries to record the following Round to the nearest dollar) 21 22 The issuance of the original bonds 23 24 25 Jan 26 23 28 29 Schedule of Band Discount Amortization 30 Effective Interest Method 31 104 Beds Solds Yield 125 The RATE function returns the 6-month interes month periods in the calculation. You need to annual market interest rate Noticis higher than the band's stated at Debit Credit SR Date Cath Paid Interest Expense Bend Disco Amor Carrying Value of Boods tedy Calculate Bonde me Dom Deco MacBook Air =RATE(G15*2, G13*G14/2,-G17,613) G . F E C D - 30, 2011, Sunland Company issued 12% bonds with a par value of $770,000 due in 20 years. The and were callable at 103 at any date after June 30, 2019. Because of lower interest rates and a signifi ay's credit rating, it was decided to call the entire issue on June 30, 2020, and to issue new bonds. the amount of $1,000,000 at 102; they mature in 20 years. Sunland Company uses the effective in for the bonds, Interest payment dates are December 31 and June 30. Original Bond issue Par value of bonds 770,000! Stated interest rate 12% Term 20 lyears Issued at 98 Issue Price $ 754,600 The RA Effective Interest rate FRATE(G15*2. month tions: -G13*G14/2,- annual the journal entries to record the following. (Ra Uso Excef's RATE function, G17,613) N-Tem x2 Notice PMT Face Value x Statod Rate / 2 discount e issuance of the original bonds. PV = Issue Price FV Face Value The PMT and FV must have signs opposite from that of the PV. These are cash flows paid out to investors. The PV is cash them to Deb Jan. 1 Schedule of Bond Discount Amortization Effective Interest Method 10% Bonds Sold to Yield 12% Interest Expense Cash Date Paid call Loan Payments and Balances Calculate Bond Discount Amort, Carrying Value of Bonds Bonds SL Bonds SL amort table Bonds Elle