The North Company negotiated a $35 million loan to remodel a mall. The company borrowed the money at 0.8% ordinary interest over prime for five years. If the prime rate was 4.3%, what is the maturity value of the loan to the nearest cent?
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Home » Mathematics » The North Company negotiated a $35 million loan to remodel a mall. The company borrowed the money at 0.8% ordinary interest over prime for five years. If the prime rate was 4.3%, what is the maturity value of the loan to the nearest cent?