The Yankel Corporations controller prepares adjusting entries only at the end of the fiscal year. The following adjusting entries were prepared on December 31, 2024: General Journal Debit Credit Interest expense 2,940 Interest payable 2,940 Insurance expense 98,000 Prepaid insurance 98,000 Interest receivable 5,880 Interest revenue 5,880 Additional information: The company borrowed $49,000 on June 30, 2024. Principal and interest are due on June 30, 2025. This note is the companys only interest-bearing debt. Insurance for the year on the companys office buildings is $147,000. The insurance is paid in advance. On August 31, 2024, Yankel lent money to a customer. The customer signed a note with principal and interest at 9% due in one year. Required:

1. What is the interest rate on the companys note payable?
2. The 2024 insurance payment was made at the beginning of which month?
3. How much did Yankel lend its customer on August 31?