Calculate the total interest and fees

Reference no: EM131933386

Question: You have approached your local bank for a start-up loan commitment for $330,000 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 = $330,000, term = one year, up-front fee = 25 basis points, back-end fee = 50 basis points, and rate on the loan = 7 percent. Assume you Immediately take down $158,000 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: EM131933386

Questions Cloud

Coverage for vehicle damage : Is the insurance company within its rights to deny any payment on his claim? How so, or why not?

What is the purpose of a freezing injunction : What is the purpose of a freezing injunction? In what ways do tribunals differ from the ordinary courts?

Overhaul of the bank organizational structure : Consider a drastic overhaul of the bank's organizational structure? What environmental and technological factors would influence your decision?

Whelming amount of big data the solution : Is being able to analyzing 1000 times more data the solution to the over-whelming amount of Big Data the solution?

Calculate the total interest and fees : You have approached your local bank for a start-up loan commitment for $330,000 needed to open a computer repair store.

Organizational behavior in a work place to apply : What are some important Positive organizational behavior in a work place to apply?

What does the civil litigant hope to achieve by taking : What does the court hope to achieve when imposing a criminal sentence?What does the civil litigant hope to achieve by taking a case to court?

Prepare the journal entries needed on the books : On April 1, 2017, Kingbird Company sold 21,600 of its 10%, 15-year, $1,000 face value bonds at 97. Interest payment dates are April 1 and October 1.

Triple constraints of a project : The scope of the project, one of the triple constraints of a project, describes in detailed the outcome of the project

User Account

All Pages