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On November 1, 2021. Tim's Toys borrows $31,500,000 at 8% to finance the holiday sales season. The note is for a six-month term and both

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On November 1, 2021. Tim's Toys borrows $31,500,000 at 8% to finance the holiday sales season. The note is for a six-month term and both principal and interest are payable at maturity. What is the balance of interest payable for the loan as of December 31, 2021? Multiple Choice O $210,000 $105,000 $1,200,000 $420,000

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