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Braggs Hardware borrows $ 3 0 0 , 0 0 0 on 1 5 February 2 0 1 8 at 1 2 % p .

Braggs Hardware borrows $300,000 on 15 February 2018 at 12% p.a. compounded quarterly and is
required to pay quarterly interest payments starting from the loan date. If its financial year end is 30
June, how is the accrued interest at this point?
A. $4,500
B. $9,000
C. $13,500
D. $18,000

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