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Effective Cost Assignment | Homework For You

Author:
February 13th, 2020
  • A firm has the line of credit with an interest rate of 3% and a commitment fee of 0.25% based on the unused portion of the line.    The total funds available on the credit line equal $5,000,000.    The firm expects average daily borrowings of $3,500,000.Homework For You
  1. What’s the effective cost of this LOC?
  2. If the bank asks for 10% compensating balance, what’s the effective cost of this LOC?
  • A firm is looking to raise $5,000,000 from the commercial paper (CP) market.   It receives the following quotes:
    1. Maturity – 60-days
    2. Discount Rate – 0.50%
    3. Dealer Fee – 0.125%
    4. LOC Commitment Fee – 0.15%

What is the effective cost of issuing this CP? Get Finance homework help today

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