Jerry Allison Starts the Month with a Balance on His

Multiple Choice

Jerry Allison starts the month with a balance on his credit card of $1,000.On the 10^th day of the month,he purchases $200 in clothes with his credit card.On the 15^th day of the month he makes a payment on his credit card of $500.The bank charges 1.5 percent interest per month using the previous balance method.What would Jerry's finance charges be for the month?

A) $7.50
B) $13.25
C) $11.25
D) $15.00
E) $18.00