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Your firm has a line of credit ( LoC ) with RBC with a limit of $ 6 . 5 mln . The APR on

Your firm has a line of credit (LoC) with RBC with a limit of $6.5 mln. The APR on the LoC is 5.15% and the commitment fee rate is 1.15%. If you borrow $350,000 for the first six months of the year and $700,000 for the next six months, how much will you pay in interest and fees?

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