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On May 3,2020, Leven Corporation negotiated a short-term loan of $885,000. The loan is due...

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Accounting

On May 3,2020, Leven Corporation negotiated a short-term loan of $885,000. The loan is due October 1,2020, and carries a 6.90% interest rate. Use ordinary interest to calculate the interest.
What is the total amount Leven would pay on the maturity date?Note: Do not round intermediate calculations. Round your answer to the nearest cent.

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