On November 1, Milton Company borrowed $300,000, at 8% annual interest, from the Tennessee National Bank. Interest is paid when the loan matures after 6 months from the issue date. What is the amount of interest expense to be accrued on December 31, the calendar year-end? Put the answer without any $ sign or comma , if the answer is $5000 , just insert in the space 5000

Answer rating: 100% (QA)

Principal 300000 Interest rate 8 Time period 612 or ... View the full answer