Question: Windsor Corporation borrows $ 1 0 0 , 0 0 0 from a bank on November 1 , Year 1 , by signing a 9

Windsor Corporation borrows $100,000 from a bank on November 1, Year 1, by signing a 9 percent, six-month note for the amount borrowed plus accrued interest due six months later on May 1, Year 2. What is the interest expense per month on this note?
Multiple Choice
$1,000
$1,200
$750
$3,000

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