How much interest would be charged on a line of credit that charges a monthly interest rate of 0.96% if the average daily balance for the month were $75,000?

-Amount of monthly interest charged cannot be calculated with out APR and APY. A monthly interest rate does not apply in this situation.

-$270.00

-$720.00

-There would be no monthly interest charge as interest is only figured and charged on an annual basis.

-$718.00