What is the total amount rafael would pay on the maturity

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Reference no: EM133375300

Case Study: 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.

Question:
What is the total amount Rafael would pay on the maturity date? (Do not round intermediate calculations. Round your answer to the nearest cent.)

Reference no: EM133375300

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