Calculating Fees on a Loen Commitment During the last year you have had a loan commitment from your bank to fund Inventory purchases for your small business. The total loan available was $1190,000, of which you took down $940.000. It is now the end of the loan commitment period and your bank is asking you to 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 $940.000) of $6.260 on this loan commitment. You remember that the up-front fee was 40 basis points, what is the back-end fee on this loan commitment Multiple Choice 60 basis points O 4 basis points 40 basis point O 6 basis points