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kindly solved Your firm has a committed line of credit with your bank with a commitment fee of 0.7% (EAR) and an interest rate of

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Your firm has a committed line of credit with your bank with a commitment fee of 0.7% (EAR) and an interest rate of 6.2% (EAR). The fotal line is $400,000 and you borrowed $150,000 at the beginning of the year. If you repay the $150,000 at the end of the year, what is your total cost, in dollars of the interest and commitment fee? What is this cost as a percentage of the amount you borrowed? Your total cost, in dollars of the interest and commitment fee, is $ (Round to the nearest dollar) Your total cost as a percentage of the amount you borrowed is \%. (Round to two decimal place.)

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