Agasse Industries began construction of a new facility and took out a $ 1 , 5 0

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Question:

Agasse Industries began construction of a new facility and took out a $

1, 500, 000, 10 %

construction loan on April

1, 2024 .

Agasse made payments to the general contractor of $

436, 000

on April

1,

936, 000

on August

31,

and $

536, 000

on December

31 .

Required:

Compute the amount of interest that Agasse would capitalize in

2024 .

Note: Do not round intermediate calculations.

Amount of interest

Posted Date: Jun 07, 2024 06:41 PM

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Agasse Industries began construction of a new facility and took out a $ 1 , 5 0

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