You have approached your local bank for a start up loan commitment $1000.000 needed to open a car repair store. You have requested that the term of the loan be one year Your bank has offered you the following terms size of Ioan commitment St000.000 term = one year up front fee = 20 basis points, backend fee = 50 bess points and rate on the loan = 9 percent. If you immediately take down $750,000 and no more during the year, what is the total interest and fees you have paid on this loan commitment Multiple Choice $700 5070 574 SO 52