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Q: A __________ is charged by the lender to hold credit open for the borrower. For example, if the firm only uses $100,000 of a $200,000 limit, then the firm might pay the lender $500 for the unused
limit in addition to the interest on the amount borrowed. 1. Term loan 2. Revolving credit agreement 3. Medium-term note 4. Commitment fee
A: A commitment fee is charged by the lender to hold credit open for the borrower. For example, if the firm only uses $100,000 of a $200,000 limit, then the firm might pay the lender $500 for the unused limit in addition to the interest on the amount borrowed.
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Asked 10/17/2013 1:39:49 AM
Updated 3/28/2016 6:23:13 AM
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A commitment fee is charged by the lender to hold credit open for the borrower. For example, if the firm only uses $100,000 of a $200,000 limit, then the firm might pay the lender $500 for the unused limit in addition to the interest on the amount borrowed.
Added 3/28/2016 6:23:13 AM
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