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Suppose a company borrows 15,000 on 1/1/14 at 10% interest rate for a one year term. The company makes interest payments every quarter but accrued

Suppose a company borrows 15,000 on 1/1/14 at 10% interest rate for a one year term. The company makes interest payments every quarter but accrued for the interest expense each month. Assuming they used the simple interest formula, what amount of interest expense would they record in May?

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