Solved: The pv of 1 at 10 for 3 periods is 075 what is the amount, Accounting Basics

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The pv of 1 at 10 for 3 periods is 075 what is the amount

Question - On January 1, 2012, Ball Co. exchanged equipment for a 200,000 zero-interest-bearing note due on January 1, 2015. The prevailing rate of interest for a note of this type in January 2012 was 10%. The PV of $1 at 10% for 3 periods is 0.75. What is the amount of interest revenue that should be included in Abel's 2013 income statement?

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Accounting Basics: The pv of 1 at 10 for 3 periods is 075 what is the amount

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