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On May 3, 2020, Leven Corporation negotiated a short-term loan of $810,000. The loan is due October 1,2020 , and carries a 6.40% interest rate.
On May 3, 2020, Leven Corporation negotiated a short-term loan of $810,000. The loan is due October 1,2020 , and carries a 6.40% 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.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. Exact days-in-a-year calendar (excluding leap year)* *Often referred to as a Julian calendar
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