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On May 3, 2020, Leven Corp. negotiated a short-term loan of $685,000. The loan is due October 1, 2020, and carries a 6.86% interest rate.

On May 3, 2020, Leven Corp. negotiated a short-term loan of $685,000. The loan is due October 1, 2020, and carries a 6.86% interest rate. Use ordinary interest to calculate the interest. What is 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.)

image text in transcribed Exact days-n-a-year calendar (excluding leap year)

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