Due to Poor Spending Habits, Ricky Has Accumulated $10,000 in Credit

Multiple Choice

Due to poor spending habits, Ricky has accumulated $10,000 in credit card debt. He has missed several payments and now the annual interest rate on the card is 18.95 percent! If he pays $175 per month on the card, in total, how much interest expense does Ricky pay to the credit card company?

A) $15,987.50
B) $17,008.52
C) $12,905.13
D) $8,714.62