Solution-What was the total cost of the line of credit at

What was the total cost of the line of credit at the end

Reference no: EM133031727

Question - A contractor established a $150,000 line of credit with a bank. When it was established, 2 points were charged on the full amount of the line borrowed. During the first 6 months, the average amount borrowed was $99,000. What was the total cost of the line of credit at the end of 6 months?

a- $10,395.00

b- $8,197.50

c- $6,697.50

d- $13,395.00

Reference no: EM133031727

Questions Cloud

What are its inventories : Question - A firms current ratio is 1.4, and its quick ratio is 1.0. If its current liabilities are 10,100, what are its inventories

Discuss a personal experience : Discuss a personal experience when it comes to an individual, whether in social media or in 'real-life', that influenced your decision making

How will this taxable income be taxed : How will this taxable income be taxed? Indicate what portion of the taxable income will be taxed at ordinary rates versus preferential rates

What is the profit or loss on disposal of the old machine : If it was traded-in for $4000 on a new machine and the balance of $2000 was paid in cash what is the profit or loss on disposal of the old machine

What was the total cost of the line of credit at the end : During the first 6 months, the average amount borrowed was $99,000. What was the total cost of the line of credit at the end of 6 months

Strengths and opportunities for growth : How have your identified strengths and opportunities for growth changed from the beginning of this course to now? And how have these various factors impacted yo

Value of a strong management team : 1. Describe the characteristics and value of a strong management team.

Employee termination-performance-improvement plans : U.S. employers have shed millions of jobs through layoffs during the pandemic, but many employers are demonstrating restraint before firing workers

Identify the number of miles of privately own pipelines : Identify the 3 largest oil companies in the world. For each company, identify the number of miles of privately own pipelines by country of operation.

User Account

All Pages

What was the total cost of the line of credit at the end

Reference no: EM133031727

Reference no: EM133031727

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Present fairlyin conformity with generally

What does kaizen and emptying a dishwasher have in common

What is the companys break-even point in sales dollars

Mri company has one employee fica social security taxes are

Which activities are different across the two establishments

Determine the number of units of widgets

Determine the net realizable value under the lcnrv rule

Non-monetary stock transaction

Caribbean or central american countries

Total contribution margin currently is 50-153600126000 if

Lxmi limited purchased a machine for rs400000 on 1st

Albertville has a direct labor standard of 2 hours per unit

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT