Answer: Interest charged=$3,780
Explanation:
Interest is the amount of money a borrower pays to its lender for money loaned to him or her at a particular time and rate It can also be money accrued from investments or deposits in financial institutions. It is calculated as
Interest charged = Principal x Rate x Time
= $252,000 x 6% X 90/ 360
=$3,780
The interest charged on the note payable =$3,780
