Answer:
b. $20.82
Explanation:
The APR is the annual percent rate on a credit card. That is, Barbara's credit card has a 19.99% annual interest rate. In order to find the amount charged in interest for this month, we must find her monthly interest rate (m):
[tex]m = \frac{APR}{12}\\m = \frac{19.99\%}{12}\\m=1.666\%[/tex]
Since her balance is 1250, her monthly interest is:
[tex]I = B*m\\I = \$1250 *1.666\%\\I=\$20.82[/tex]
The answer is b. $20.82
