What is the amount of interest due with the loan, Financial Accounting

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What is the amount of interest due with the loan

Problem

On March 1, 2022, Will's Wallets takes out a $50,000 loan from the local bank. The annual interest rate is 2% and the loan is due on May 31, 2022 (three months from the inception of the loan). The entire balance of the loan, with interest, is due on May 31, 2022. On May 31, 2022, what is the amount of interest due with the loan?

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Financial Accounting: What is the amount of interest due with the loan

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Financial Accounting: What is the amount of interest due with the loan

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