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What will be the avoidable interest

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Question - A company is constructing a warehouse for business purposes. The construction began on 1/1/2011 and will be finished on 12/31/2011

Payments to the contractor have been made on the following dates: $147,547.22 on 3/1/2011 and $254,147.22 on 12/1/2011

The company had outstanding, all year loans: $324,000.00, 5.5%, 5-year note and $124,000.00, 8%, 2-year note

Based on the above information, what will be the avoidable interest?

Reference no: EM131831325

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