On May 3, Rafael Sandino. negotiated a short-term loan of $930,000. The loan is due October 1, and carries a 7.20% interest rate. Use ordinary interest to calculate the interest. Note: Remember to have your calculator set to a 360-day year to find days between dates. What is the total amount Rafael would pay on the maturity date? (Do not round intermediate calculations. Round your answer to the nearest cent.)
On May 3, Rafael Sandino. negotiated a short-term loan of $930,000. The loan is due October 1, and carries a 7.20% interest rate. Use ordinary interest to calculate the interest. Note: Remember to have your calculator set to a 360-day year to find days between dates. What is the total amount Rafael would pay on the maturity date? (Do not round intermediate calculations. Round your answer to the nearest cent.)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 68SGR
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On May 3, Rafael Sandino. negotiated a short-term loan of $930,000. The loan is due October 1, and carries a 7.20% interest rate. Use ordinary interest to calculate the interest. Note: Remember to have your calculator set to a 360-day year to find days between dates.
What is the total amount Rafael would pay on the maturity date? (Do not round intermediate calculations. Round your answer to the nearest cent.)
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