the company X issued a $1,000,000, 5-year, non-interest bearing note to buy the equipment when the prevailing interest rate for such obligations was 11.5%. The company will pay off the note in five $200,000 installments due at the end of each year.

maturity date	12/01/2019
note face value	1000000
interest period	5
stated rate	0
market rate	11.5
npv

interest period date	note payable cash	cash interest payment	interest expense	discount on note payable	balance armotized discount	present value of the note	cash flow
1/1/15
12/31/15
12/31/16
12/31/17
12/31/18
12/31/19
12/31/20