Solved: On november 1 2009 tims toys borrows 30000000 at 9 to, Accounting Basics

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On november 1 2009 tims toys borrows 30000000 at 9 to

Question - On November 1, 2009, Tim's Toys borrows $30,000,000 at 9% to finance the holiday sales season. The note is for a six-month term and both principal and interest are payable at maturity. What should be the balance of interest payable for the loan as of December 31, 2009?

A. $112,500.

B. $225,000.

C. $450,000.

D. $1,350,000.

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Accounting Basics: On november 1 2009 tims toys borrows 30000000 at 9 to

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Accounting Basics: On november 1 2009 tims toys borrows 30000000 at 9 to

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