What are the interest payment and the origination fee


Tinkers, Inc. finances its seasonal working capital need with short-term bank loans. Management plans to borrow $65,000 for a year. The bank has offered the company a 3.5% discounted loan with a 1.5% orgination fee. What are the interest payment and the origination fee required by the loan? What is the rate of interest charged by the bank?

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Finance Basics: What are the interest payment and the origination fee
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