Can you solve for F? And also can you show your steps. P=1,000,000.

6. Bank of Corvallis also pays off its fed funds borrowed on August 31, 2018. How much cash is owed? How is this recorded? [Hint: The 3.5% is the fed funds rate over 29 days, and it is reported as a "discount rate, not an investment rate. You will apply the following formula to find the amount of cash owed. F-P 360 x = 3.5% F 29 P is the amount of fed funds borrowed, and you want to find F, the amount that the bank owes.] Accounting entries for fed funds loan. Debit Credit Fed Funds borrowed Interest Expense Cash $1,002,827.42 $1,000,000.00 $2,827.42