Final answer:
The total interest due on a 30-day, 12% note for $15,000 is calculated using the simple interest formula. The correct interest amount is $125, which is not among the provided options.
Step-by-step explanation:
The student is asking about the calculation of interest on a short-term note payable. Specifically, we need to calculate the interest due on a 30-day, 12% note for $15,000. The formula for calculating simple interest is Interest = Principal × Rate × Time. Here, the Principal is $15,000, the annual Rate is 12% (or 0.12 when converted), and the Time for a 30-day note (assuming a 360-day year) is 30/360.
Plugging these values into the formula, we get Interest = $15,000 × 0.12 × (30/360). First, calculate the time fraction: 30/360 = 1/12. Next, calculate the interest: $15,000 × 0.12 × 1/12 = $1500 × 1/12 = $1500/12 = $125. So, the correct answer is that the total amount of interest due on the note is not listed among the options provided by the student as the calculated interest is $125.