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On Vijay's most recent credit card statement, his balance was $275\$275. The minimum payment due was $20\$20, but he decided to pay $60\$60. His interest rate is 19%19\%.\newlineWhich statement is true?\newlineChoices:\newline(A) Vijay will not be charged any interest.\newline(B) Vijay will be charged interest on the $215\$215 he still owes.\newline(C) Vijay will be charged interest on the $275\$275 he spent.

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Q. On Vijay's most recent credit card statement, his balance was $275\$275. The minimum payment due was $20\$20, but he decided to pay $60\$60. His interest rate is 19%19\%.\newlineWhich statement is true?\newlineChoices:\newline(A) Vijay will not be charged any interest.\newline(B) Vijay will be charged interest on the $215\$215 he still owes.\newline(C) Vijay will be charged interest on the $275\$275 he spent.
  1. Calculate Remaining Balance: Vijay's initial balance was $275\$275, and he paid $60\$60. To find out how much he still owes, subtract the payment from the initial balance: $275−$60=$215\$275 - \$60 = \$215.
  2. Consider Interest Rate: Since Vijay still owes $215\$215, and the interest rate is 19%19\%, interest will be charged on the remaining balance. The interest calculation is not needed to determine which statement is true, but knowing that interest applies to the remaining balance after payment is crucial.

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