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Knowledge Check 01 Windsor Corporation borrows $100,000 from a bank on November 1, Year 1, by signing a 9 percent, six-month note for the amount

Knowledge Check 01 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

A. $1,200

B. $750

C. $1,000

D. $3,000

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