Scotiabank approved a $300,000.00 line of credit for Buhler Industries at prime +0.75%. It requires only the repayment of accrued interest on the 24 th of each month, which is automatically deducted from the checking account of Buhler Industries. Buhler took out an advance on December 7 for $275,000.00 and made a payment of $225,000.00 on January 14 . The prime rate was 5.5% initially and increased to 6.25% on January 7 . Scotiabank approved a $300,000.00 line of credit for Buhler Industries at prime +0.75%. It requires only the repayment of accrued interest on the 24 th of each month, which is automatically deducted from the checking account of Buhler Industries. Buhler took out an advance on December 7 for $275,000.00 and made a payment of $225,000.00 on January 14 . The prime rate was 5.5% initially and increased to 6.25% on January 7