Question: Word Problem 10-18 (Algo) [LU 10-1 (2)] On May 3, 2020, Leven Corporation negotiated a short-term loan of $915,000. The loan is due October 1,

Word Problem 10-18 (Algo) [LU 10-1 (2)]

On May 3, 2020, Leven Corporation negotiated a short-term loan of $915,000. The loan is due October 1, 2020, and carries a 7.10% 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.

Find the Maturity Value

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