IB margin rate

i want to borrow 10k USD on margin for 1day, how am i going to be charged?

i dont really understand http://www.interactivebrokers.com/en/accounts/fees/interest.php?ib_entity=llc#debit

 

You add the interest shown in the Benchmark chart to the interest shown in the Margin chart.

In the Benchmark chart Under USD - Libor you'll see 3.046%.

Under the Margin chart (USD) for less than $100K the adder is 1.5%.

Add the two together and you've got the daily rate.

 

.04546 X 10,000
---------------------
360

= $1.26/day

 

thx all

 

Quote from JackR:
...Add the two together and you've got the daily rate.

It's the annual rate. Divide by ~365 to get the daily rate.

 

I noticed my error but Ebo had already posted the actual single day, non-compounded answer.

I'm not sure if IB uses 360 or 365/366 as a divisor.