Solved: The loan is due october 1 2010 and carries a 686 interest, Accounting Basics

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The loan is due october 1 2010 and carries a 686 interest

Question - May 3, 2010, Leven Corp. negotiated a short- term loan of $ 685,000. The loan is due October 1, 2010, and carries a 6.86% interest rate. Use ordinary interest to calculate the interest. What is the total amount Leven would pay on the maturity date?

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Accounting Basics: The loan is due october 1 2010 and carries a 686 interest

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Accounting Basics: The loan is due october 1 2010 and carries a 686 interest

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