When I compute the value for this bond 7 years from today, I did 4,674,802*(1.045)^14, but somehow this is the wrong answer. Isn’t it merely just sliding the present value 7 years into the future?
You’re part way to the bond value by rolling up the $4,674,802: you also have to deduct the accumulated value of coupons paid to date. This is known as retrospective accumulation.