Question
on the 1st of October 2019, alexandra borrows $300,000 from the bank for her business. The bank charges an 8% interest rate and the loan
on the 1st of October 2019, alexandra borrows $300,000 from the bank for her business. The bank charges an 8% interest rate and the loan must be paid back on june 30th 2020. Max is Alexandra's accountant, he records the interest expense at the end of every month. The cash interest payments are not made until the end of the loan. Max will record interest expense of _______ on december 31st 2019. (round to 2 decimal places if needed)
Alexandra will pay a total of ______ in cash on june 30th 2020 including both principal and interest. (round to two decimal places if needed)
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