On January 1, Natalie Had $15,000 in Student Loans Outstanding

Multiple Choice

On January 1, Natalie had $15,000 in student loans outstanding. She agreed to $90 per month payments to repay these loans. From January 1 to February 14, the interest rates were 7.0%, but increased to 7.5% thereafter. Calculate the amount of interest paid for the month of February.

A) $87.80
B) $86.70
C) $85.60
D) $84.30
E) $83.40