Answer:
Total fees paid = $2,700,085
Explanation:
Given:
Loan Amount = $4,430,000
Up-Front basis fee = 60 points
Back-end fee = 35 points
Take down = 40 %
Computation:
Up-Front basis fee = $4,430,000 x 0.0060
Up-Front basis fee = $26,580
Back-end fee = $4,430,000 x 0.0035
Back-end fee = $15,505
Take down amount = $4,430,000 x 40%
Take down amount = $1,772,000
So
Total fees paid = [$4,430,000 - $1,772,000] + $26,580 + $15,505
Total fees paid = $2,700,085
