Answer: 125
Explanation:
Given that:
The principal = 15000
Rate = 10%
Years = 1 year = 12 month
Interest I = PRT/100
I = (15000 × 10 × 1)/100
I = 1500
The amount of interest expense that would they record in May will be
Interest = I/ 12 = 1500/12 = 125