A Bank Credit Card Charges Interest at the Rate of 15

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