Notes Receivable - Example P.51

[mishmish80]

I dont understand the example .. it is mentioned On January 1, 2009 ... then the prevailing rate for a note of this type at January 1, 2005 !!! why we are using 2005 interest rate while the transaction is made in 2009 ??

[Kevin Hock]

I apologize for the inconvenience. Please read all 2005's as 2009's. The problem originally used 2005, but we updated for 2009 and simply did not catch all of the 2005's and get them all changed.