2024 – Tinker Inc finances its seasonal working capital need with short term bank loans Management
Tinker, Inc. Finances Its Seasonal Working Capital Need – 2024
Tinker, Inc. finances its seasonal working capital need with short-term bank loans. Management plans to borrow $65,000 for a year. The bank has offered the company a 3.5 percent discounted loan with a 1.5 percent origination fee. What are the interest payment and the origination fee required by the loan? What is the rate of interest charged by the bank?
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