Centennial Hospital negotiates a $8M line of credit (LOC) with a bank. The LOC has a commitment...
Centennial Hospital negotiates a $8M line of credit (LOC) with a bank. The LOC has a commitment fee of 0.25 percent (.0025). Centennial actually borrows $3M from the LOC for the year. How much is the commitment fee that Centennial must pay:
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$20,000 |
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$12,500 |
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Zero |
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$7,500 |
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Centennial Hospital negotiates a $8M line of credit (LOC) with a
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