7)The bank charges $4,000 for closing costs on a $200,000 loan with an annual percentage rate of 7.5% compounded monthly with a term of thirty years. The bank will not allow the closing costs to be added to the $200,000 borrowed. What effect do the closing costs have on the effective annual interest rate?

8)Your company has an existing loan with monthly payments, principal and interest, of $1,888.59. There are 120 payments left on the loan and the loan has an unpaid balance of $155,660.00. Your company is looking at the possibility of replacing this loan with a loan that has estimated closing costs of $3,300.00. At what interest rate would this become attractive?

9)Determine the actual annual interest rate on a $100,000 line of credit with an annual percentage rate of 10% compounded monthly. The bank requires that a 5% compensating balance be placed in an interest-bearing account that pays an annual percentage rate of 1.5% compounded monthly. The average daily balance is anticipated to be $75,000, excluding the compensating balance and interest due on the line of credit.

10)Determine the effective annual interest rate on an $85,000 line of credit with an annual percentage rate of 9.25% compounded monthly. The bank requires that a 2% commitment fee be paid on the unused balance of the line of credit. The average daily balance is anticipated to be $70,000.

Im not really sure what they are asking on question 7? I also need help on the others? NOt sure on how to do them. Thanks in advanced.