On February 1st of the current year, Abbott Company borrows $57,000 from the bank in exchange for a 1- year, 6% note payable. What is Abbott's monthly interest expense? On February 1st of the current year, Abbott Company borrows $57,000 from the bank in exchange for a 1- year, 6% note payable. What is Abbott's monthly interest expense? $3,420 $285 $342 $57,000