Revolving credit agreement

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Reference no: EM131180098

Bridgeport Inc has a $30 million revolving credit agreement with its bank at prime plus 3.2% based on a calendar year. Prior to the month of April, it had taken down $15 million that was outstanding for the entire month. On April 10, it took down another $5M. Prime is 8.2%, and the bank's commitment fee is .25% annually. Calculate the charges associated with Bridgeport's revolving credit agreement for the month of April.

Reference no: EM131180098

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