How much interest would be paid on a credit card at the end of the second 30-day month on a one-year $1,000 loan at a 12.99% annual rate? Assume you pay nothing at the end of the first 30-day month.
A) $10.92
B) $108.10
C) $10.91
D) $10.80
E) $109.10
Correct Answer:
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