If Monty Buys a New Television for $800 This Month

Multiple Choice

If Monty buys a new television for $800 this month and sends in a credit card payment of $1,200 when he gets his statement,how much interest will he pay on the television for the month?

A) 18%
B) 1.5%
C) None,since he paid for the television in full during the grace period.
D) None of the above answers is correct.