Question 3

For a loan received in the last 4 months, default interest was generated in the following order of seniority:

4 months	3 months	2 months	1 month
12,000	13,000	14,000	15,000

If the unpaid default interest balance is $45,000 How much is NOT deductible from that amount?ANSWERS:

A) None of the above

B) "$15,000"

C) "$3,000"

D) "$42,000"