How does a $$10,000$ line of credit work?

Multiple choice question.

$$10,000$ is borrowed in even increments over the course of the loan period

Borrow and repay as desired as long as the total sum of the borrowing does not exceed $$10,000$ during a calendar year

The $$10,000$ must be taken as one lump$-$sum but can be repaid as desired as long as it is repaid within one year

Borrow, repay, borrow, and repay as long as the maximum amount owed at any one time does not exceed $$10,000$