Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed

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

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Building Financial Models

Authors: John Tjia

2nd Edition

0071608893, 978-0071608893

More Books

Students also viewed these Finance questions