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On May 3, 2014, Leven Corp. negotiated a short-term loan of $945,000. The loan is due October 1, 2014, and carries a 7.30% interest rate.
On May 3, 2014, Leven Corp. negotiated a short-term loan of $945,000. The loan is due October 1, 2014, and carries a 7.30% interest rate. Use ordinary interest to calculate the interest. What the total amount Leven would pay on the maturity date? (Use Days in a year table.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Maturity value $ TABLE 7.1 Exact days-in-a-year calendar (excluding leap year)* 31 Day of month 31 Jan. 28 Feb. 31 Mar. 30 Apr. 31 May 30 June 31 July 30 Sept. 31 Oct. 30 Nov. 31 Dec. Aug. 1 1 32 60 91 152 182 274 335 121 122 244 245 2 2 33 61 92 153 213 214 215 183 275 305 306 307 336 3 3 34 62 93 123 154 184 246 276 337 4 4 35 63 94 124 155 185 216 247 277 308 338 5 5 36 64 95 125 156 186 217 248 278 309 339 6 6 37 65 96 126 157 187 218 249 279 310 340 7 7 38 66 97 158 188 219 250 280 311 341 127 128 8 8 39 67 98 159 189 220 251 281 312 342 9 9 40 68 99 129 190 252 282 313 343 221 222 10 10 41 69 100 191 253 283 344 130 131 160 161 162 163 11 42 70 TOI 192 284 345 223 224 254 255 314 315 316 317 12 12 43 71 102 132 193 285 346 13 13 44 72 103 133 164 194 225 256 286 347 14 14 45 73 104 134 165 195 226 257 287 318 348 15 15 46 74 105 135 166 196 227 258 288 319 349 16 16 47 75 106 136 167 197 228 259 289 320 350 17 17 48 76 107 137 168 198 229 260 290 321 351 18 18 49 77 108 138 169 199 230 261 322 352 19 19 50 78 109 139 170 200 262 291 292 293 323 231 232 353 20 20 51 79 110 140 201 263 324 354 21 21 52 80 111 141 171 172 173 202 233 264 294 325 355 22 22 53 81 112 142 203 234 265 295 326 356 23 23 54 82 113 143 174 204 266 296 327 357 235 236 24 24 55 83 114 144 205 267 297 328 358 25 25 56 84 115 145 175 176 177 206 237 268 298 329 359 26 26 57 85 116 146 207 238 269 299 330 360 27 27 58 86 117 147 178 208 239 270 300 331 361 28 28 59 87 118 148 179 209 240 301 332 362 271 272 29 29 88 119 149 180 210 241 302 333 363 30 30 89 120 150 181 211 242 273 303 334 364 31 31 90 151 212 243 304 365
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