Total interest and fees you will pay on loan commitment

Assignment Help Financial Management

Reference no: EM131568435

You have approached your local bank for a start-up loan commitment for $400,000 needed to open a computer repair store. You have requested that the term of the loan be one year. Your bank has offered you the following terms: size of loan commitment = $400,000, term = one year, up-front fee = 35 basis points, back-end fee = 50 basis points, and rate on the loan = 8 percent. Assume you immediately take down $165,000 and no more during the year. Calculate the total interest and fees you will pay on this loan commitment. Total interest and fees $

Reference no: EM131568435

Questions Cloud

Expanding global trade and conflicting worldviews : When you have completed your exam and reviewed your answers, click Submit Exam. Answers will not be recorded until you hit Submit Exam.

Define ethics and morals : Define ethics and morals. Identify and describe the differences and similarities between ethics and morals.

Defining stress itself can play a role in coping strategies : How do you think defining stress itself can play a role in terms of the coping strategies that we use

Share your written proposal with your manager : Share your written proposal with your manager, supervisor or other colleague in a formal leadership position within a health care organization.

Total interest and fees you will pay on loan commitment : Calculate the total interest and fees you will pay on this loan commitment.

Annual safety report : The CEO of Machines Unlimited recently presented the annual safety report at each of the company's locations.

Discuss the coherence of personality : Discuss the coherence of personality. In what situations might a person fail to exhibit coherence. What does that tell us about the theory

Prepare a schedule showing the allocation of total cost : Prepare a schedule showing the allocation of total cost between finished goods and ending work in process

Describe your thoughts on the role health care professionals : Briefly summarize the presented issue.Describe your thoughts on the role health care professionals should play in resolving the ethical issue.

User Account

All Pages