Answer:
The correct answer is option (D).
Explanation:
According to the scenario, the given data are as follows:
Money borrowed = $30,000,000
Rate of interest = 9%
Time = 2 months
So, we can calculate the balance of loan interest payable by using following formula :
Balance of loan interest = ( Money borrowed × Rate of interest × Time ) / 12
= ( $30,000,000 × 9% × 2 months ) / 12
= $450,000
Hence, the balance of loan interest payable is $450,000.
