Mill Vannii Ltd has arranged a line of credit that allows it to borrow up to $60 milion at any time. The interest rate is .636 percent per month. Additionally, the company must deposit 6 percent of the amount borrowed in a non-interest bearing account. The bank uses compound interest on its line-of-credit loans. What is the effective annual rate on this line of credit? Multiple Choice 9.34% 7.34% O 7.90% 7,34% 7.90% 6.77% 8.41%