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What is the carrying amount of the loan receivable

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Question - BPI granted a 10-year loan to a borrower in the amount of 1,500,000 with stated interest rate of 6%. Payments are due monthly and are computed to be 16,650. The bank incurred 40,000 of direct loan origination cost and 20,000 of indirect loan origination cost. In addition, the bank charged the borrower a 4-point nonrefundable loan origination fee. What is the carrying amount of the loan receivable to be reported initially by the bank?

Reference no: EM133041937

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