On November 1, 2018, Tim's Toys borrows $30,000,000 at 9% to finance the holiday sales season. The note is a six-month term and both principal and interest are payable at maturity. What is the balance of loan interest payable of December 31, 2018? a. $112,500 b. $1,350,000 c. $225,000 d. $450,000
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