On January 1, 2012, Esra Corporation sold 4% bonds having a maturity value of $300,000. The market determined that 5% was the appropriate rate of interest, given the risks that Esra Corporation to bondholders.
The bonds are dated January 1, 2012, mature January 1, 2015, and pay interest on June 30 and December 31 of each year.
Calculate the price of the bond and create an amortization schedule.