You have approached your local bank for a start-up loan commitment for $330,000 needed to...
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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. Assume you take down 70 percent of the total loan commitment Calculate the total fees you will pay on this loan commitment. Answer is complete but not entirely correct. Total focs 2,475
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