What is the fee the company must pay on the unused balance, Finance Basics

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What is the fee the company must pay on the unused balance

Lansdowne Electronics has a formal line of credit of $1 million for up to three years with HND Bank. The interest rate on the loan is 6.60 percent, and under the agreement, Lansdowne has to pay an annual fee of 50 basis points on the unused amount. Suppose the firm borrows $555,883 the first day of the agreement. What is the fee the company must pay on the unused balance? What is the effective interest rate?

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Finance Basics: What is the fee the company must pay on the unused balance

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Finance Basics: What is the fee the company must pay on the unused balance

Reference No:- TGS0602619

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: What is the fee the company must pay on the unused balance

Reference No:- TGS0602619

Recent Questions Asked Finance Basics

Q : Northern manufacturing company found that during the last

Q : For a conductive metal the fermi energy was determined to

Q : Unpolarized passes through two polarizers that are oriented

Q : Devon automotive estimates that it takes the company about

Q : What is the fee the company must pay on the unused balance

Q : Assume that the firm has a tax rate of 35 percent compute

Q : A calculate alpha omega-sub-delta and omega-sub-zero b

Q : In a student experiment a constant-volume gas thermometer

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