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You have approached your local bank for a start-up loan commitment for $1,000,000 needed to open a car repair store. You have requested that the term of the loan be one year. Your bank has offered you the following terms: size of loan commitment = $1,000,000, term = one year, up-front fee = 20 basis points, back-end fee = 50 basis points, and rate on the loan = 9 percent. If you immediately take down $750,000 and no more during the year, what is the total interest and fees you have paid on this loan commitment?
Revolutionary Unionism
A form of unionism that seeks to unite all workers to fundamentally change societal structures, prioritizing social change over contract negotiation.
Worker Solidarity
The sense of unity and mutual support among workers, often in the context of a shared struggle or labor movement.
Square Deal Program
President Theodore Roosevelt's domestic program, which aimed at ensuring fair treatment for all citizens without regard to social status.
Active Government Role
Involves the government taking significant actions to influence and regulate economic, social, and other sectors to achieve desired outcomes, such as economic stability, social welfare, and public safety.
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