Yes, Microsoft Excel has a function that can calculate bond premium amortization using the constant yield method. The function is called ACCRINT and it can be used to calculate the amount of bond premium amortization for a given period.

Here's how you can use the ACCRINT function to calculate the bond premium amortization for the example you provided:

1. Open a new Excel spreadsheet and enter the following information in separate cells:
   - Par: 100,000
   - Price: 101
   - Bought: July 15, 2009
   - Maturity: June 30, 2019
   - Cash Paid: 101,000
   - Premium: 1,000
   - Coupon: 5%
   - Payment Frequency: Semi-Annual
   
2. In a new cell, enter the following formula:
   
   Code:

   =ACCRINT(settlement, maturity, rate, par, frequency, [basis], [calc_method], [first_period], [last_period])

3. Replace the arguments in the formula with the following:
   - settlement: The date the bond was purchased (July 15, 2009)
   - maturity: The maturity date of the bond (June 30, 2019)
   - rate: The annual coupon rate (5%)
   - par: The face value of the bond (100,000)
   - frequency: The number of coupon payments per year (2 for semi-annual)
   - basis: The day count basis to use (optional, defaults to 0 for US (NASD) 30/360)
   - calc_method: The method to use for calculating the bond's yield (optional, defaults to 0 for the US Treasury method)
   - first_period: The first period for which to calculate the bond's accrued interest (optional, defaults to settlement date)
   - last_period: The last period for which to calculate the bond's accrued interest (optional, defaults to maturity date)
   
4. Press Enter to calculate the bond premium amortization for the first period. The result should be -4.166666667, which represents the amount of premium amortization for the first semi-annual period.
   
5. Copy the formula to the cells below to calculate the bond premium amortization for each subsequent period.

That's it! The ACCRINT function should provide you with the bond premium amortization using the constant yield method for the given bond.