Question: DTE borrowed $3,000,000 at a 10% annual interested rate from Chase Bank on March 31,2016. Annual interest is payable on March 31 for the next

DTE borrowed $3,000,000 at a 10% annual interested rate from Chase Bank on March 31,2016. Annual interest is payable on March 31 for the next five years. How much should GErecord as interest payable on December 31, 2016?

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