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Caitlyn has a creditc 1 with a spending limit of s1500 and an APR (annual percentage rate) During the first month,Caitlyn charged $375 and paid $250 of that in her billing cycle. Which expression will amount of interest Caitlyn will befind the charged after the first month?(0.18) $250(0.015) $375(0.18) $375)o (0.015) $125

Caitlyn has a creditc 1 with a spending limit of s1500 and an APR annual percentage rate During the first monthCaitlyn charged 375 and paid 250 of that in her b class=

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it will be D: (0.015) $125

Answer:

The correct option is D) (0.015) $125.

Step-by-step explanation:

Consider the provided information.

It is given that the APR=18%

Therefore monthly interest can be calculated as

Monthly interest = [tex]\frac{18}{12}=1.5\%[/tex]

Monthly interest = [tex]\frac{1.5}{100}=0.015[/tex]

During the first month,Caitlyn charged $375 and paid $250 of that in her billing cycle.

Therefore, amount liable for interest charges is:

375 - 250 = $125

Hence, the interest can be calculated as:

(0.015) $125

Therefore, the correct option is D) (0.015) $125.

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