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How do you figure out interest expense on a accrued bank

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How do you figure out interest expense on a accrued bank note? Borrowed 750,000 from Lessburgbant. The fifteen year, 12% note requires payment due annually, on March 1. Each payment consists of 50,000 principal plus one years interest. My problem is figuring out the month divided by 12. (750,000 *0.12*?/12.

Reference no: EM131794744

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How do you figure out interest expense on a accrued bank : How do you figure out interest expense on a accrued bank note. Borrowed 750,000 from Lessburgbant.
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