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help me pleasee.. urgent Darwish is thinking of getting an overdraft facility for his business and plans to pledge his house valued at RM1,500,000. The
help me pleasee.. urgent
Darwish is thinking of getting an overdraft facility for his business and plans to pledge his house valued at RM1,500,000. The bank that he is applying is willing to provide him the facility, 60% of the property price. The commitment fee is 1% and the interest rate is BLR+1.7% per annum. Darwish's overdraft account is as follows. BLR for January is 5.5% and has increased byl% the following month. Calculate the commitment fee for the month of February. Date 1 January 2020 12 January 2020 31 January 2020 14 February 2020 Transaction Balance brought down Deposit Balance brought forward Withdrawal Amount (RM) 350,000 200,000 150,000 400,000 (10 marks)Step by Step Solution
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