Answer:
B.3.00
Explanation:
APR refers to the annual percentage of interest charged on credit.
If APR is 18%, the monthly interest payments will require obtaining a monthly rate.
The monthly rate = 18%/ 12 =1.5%
Monthly interest = p x r x t
where p=$200: r 1.5% or 0.015: t 1 month
=200 x0.015 x 1
=3
