Interest rate is 7%, 0.4% fee due at closing, interest payable in advance and no compensating balances. Effective cost of the bank loan: _______________
Compensating balance is 9%, interest paid in arrears, closing fees due up front equal 1% of the line. Interest rate is 8%. Effective cost of the bank loan: _______________
Interest rate is 9%, no compensating balances, 1% fee due at closing and interest paid in arrears. Effective cost of the bank loan: _______________
Interest rate is 10%, interest paid in advance, 14% compensating balance, 0.75% fee due at closing. Effective cost of the bank loan: _______________