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During the last year you have had a loan commitment from your bank to fund working capital for your business. The total line available was $10,000,000, of which you took down $7,800,000. It is now the end of the loan commitment period and your bank had you pay the back-end fees. You have misplaced the paperwork that listed the terms of the commitment, but you know you paid total fees (this does not include any interest paid to borrow the $7,800,000) of $51,200 on this loan commitment. You remember that the back-end fee was 112 basis points. Calculate the front-end fee on this loan commitment.
Obesity
A medical condition involving an excessive amount of body fat, increasing the risk of health problems.
Positron Emission Tomography (PET) Scan
A diagnostic imaging test that helps reveal how tissues and organs are functioning by using a radioactive substance called a tracer.
Computerized Tomography (CT) Scan
A medical imaging technique that combines a series of X-ray measurements taken from different angles to produce cross-sectional images of specific areas of the body.
Magnetic Resonance Imaging (MRI)
A non-invasive imaging technology that produces three-dimensional detailed anatomical images using strong magnetic fields and radio waves.
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