You are finalizing a bank loan for $200,000 for your small business and the closing fees...
You are finalizing a bank loan for $200,000 for your small business and the closing fees payable to the bank are 2.0% of the loan. After paying the fees, what will be the net amount of funds from the loan available to your business?
The net amount of funds from the loan available to your business is $___. (Round to the nearest dollar.)
Homework Answers
Net amount of funds from the loan available to your business = $200,000 - ($200,000 × 2%)
Net amount of funds from the loan available to your business = $196,000
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