A Credit Card Charges 18 Percent Annual Interest and Frank

Multiple Choice

A credit card charges 18 percent annual interest and Frank has $750 due on the statement date.He is only able to make the minimum payment of $22.50.If the billing cycle is 30 days and the grace period is 20 days,and he pays the full balance at the next due date,how much interest would he owe?

A) $10.76
B) $17.94
C) $28.70
D) $21.53