A Bank Credit Card Charges Interest at the Rate of 15

question 70

Multiple Choice

A bank credit card charges interest at the rate of 15% per year, compounded monthly.If a senior in college charges her last tuition bill of $1,300 and intends to pay it in one year, what will she have to
Pay?

• A)$1,316.25
• B)$1,566.28
• C)$1,509.26
• D)$1,508.98
• E)$1,464.87

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