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What is the balance of loan interest payable of december

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Problem 1: On November 1, 2018, Tim's Toys borrows $30,000,000 at 9% to finance the holiday sales season. The note is a six-month term and both principal and interest are payable at maturity. What is the balance of loan interest payable of December 31, 2018?

a. $225,000

b. $1,350,000

c. $112,500

d. $450,000

Reference no: EM132819996

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