The interest on the line of credit is 11% and is calculated monthly.

a) What is the periodic interest rate?

b) What is the active annual interest rate?

c) If 2 million is deducted, and no further movements take place, what will be the balance on the account three years later?

d) How long does it take for amount of line of credit to double, if no movement takes place after it has been deducted?