What is the balance of interest payable for the loan

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Reference no: EM133433683

Question: On November 1, 2021, Tim's Toys borrows $29,100,000 at 8% to finance the holiday sales season. The note is for a six-month term and both principal and interest are payable at maturity. What is the balance of interest payable for the loan as of December 31, 2021?

Reference no: EM133433683

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