Company C has arranged a $10,000,000 credit line with Bank B. B will charge C 5% annually for funds that are drawn down and 0.5% for any unused credit line. C borrows $5,000,000 for a full year. How much does it pay B for the year?
a) $550,000
b) $525,000
c) $300,000
d) $275,000
Answer: d) $275,000
Business
You might also like to view...
Why do organizations appoint an ethics officer?
What will be an ideal response?
Business
To simply convey any interest in real estate without an assurance the individual holds that interest conveyed, a(n) __________ is used.
a. grant deed b. abstract of title c. quitclaim deed d. implied covenant
Business