Shamrock gave the vendor a $11,300 zero-interest-bearing note for the equipment on the date of purchase. The note was due in one year and was paid on time. Assume that the effective-interest rate in the market was 9%.

The journal entry would be

Equipment 10,367 Discount on Note Payable 933 Notes Payable 11,300

Equipment is 11,300*0.91743= 10,367 I know if I go to Present Value of Single Sum Table, I can get the rate of 0.91743. but I like to know how to solve this problem using calculator( texas instrument).

Please help me.Thanks.