Notes payable Question-

I dont don't understand the interest expense / interest payable calculation portion.

(100,000*.06.3/12)=1,500

please explain the 3/12 portion in details I don't understand.

Ex : On April 1 , Holton Company borrows $100 ,000 from West Bank by signing a 6- month , 6 % interest bearing note Prepare the necessary entries below associated with the note payable on the books of Holton Company ( a ) Prepare the entry on April 1 when the note was issued ( 6 ) Prepare any adjusting entries necessary on June 30 in order to prepare the semiannual financial statements . Assume no other interest accrual entries have been made Date Debit Credit Cash Apr . 1 100.000 Notes Payable 100.000 Interest Expense un . 30 1 500 Interest Payable ( $100 ,000 * 6 % * 13/ 121 1 1.500 Face Value Annual Time in of Note Interest Terms of Interest Rate One Year