Maywood Company recently signed a $350,000, six-month note on August 22, 2019. The interest rate is 7%. How much interest will be due at maturity?
A) $10,208
B) $24,500
C) $12,250
D) $8167
C) $12,250
$350,000 × 7% × 6/12 = $12,250
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