?

Financial Accounting

Free Version

Upgrade subject to access all content

Easy

Notes Payable: Interest Amount Due

FINACT-HGQPGK

Brent Company decided to borrow $50,000 on March 1, 20x4. Brent signed a 2-year 6% interest-bearing note. The terms of the note require that a semi-annual payment for interest must be made.

How much interest will the company pay every six months?