On the Idaho Store worksheet, in the range B9:B16, use the Fill Series feature to enter interest rates beginning with 8.50%. Decrease the amounts by .50% ending with 5.00%. Format the rates as Percent Style with two decimal places and apply bold and center.

Answer:

Kindly check explanation

Explanation:

To achieve this, a formular is entered to give a rate of 8.50% in B9 ; The formular could be :

Beginning rate - 0.50x

Where x = 1 in cell B9

The beginning rate = 8.50

Hence, the formula to be inputted :

=9.00 - 0.50*1

Kindly lock the beginning rate and decline rate by an absolute reference so it doesn't change as the fill handle is being dragged down

In cell B9 :

9.00% - 0.50%*1 = 8.50%

B10:

9.00% - 0.50%*2 = 8.00%

... B16 :

9.00% - 0.50%*8 = 5.00%

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When amortizing the discount on bonds payable, the amount of interest expense reported on the income statement will always be less than cash paid for interest. True or false?