Caseys One Stop has been approved for a $267,500 loan commitment from its local bank....
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| Caseys One Stop has been approved for a $267,500 loan commitment from its local bank. The bank has offered the following terms: term = one year, up-front fee = 65 basis points, back-end fee = 30 basis points, and rate on the loan = 7.00 percent. Caseys expects to immediately take down $256,000 and no more during the year unless there is some unforeseen need. |
| Calculate the total interest and fees Caseys One Stop can expect to pay on this loan commitment. (Round your answer to 2 decimal places.) |
| Total interest and fees | $ |
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