Wilson has a balance of $890 on a credit card with an APR of 18.7%, compounded monthly. About how much will he save in interest over the course of a year if he transfers his balance to a credit card with an APR of 12.5%, compounded monthly? (Assume that Wilson will make no payments or new purchases during the year, and ignore any possible late-payment fees.)
A. $63.61
B. $117.85
C. $299.31
D. $181.46

Question

Wilson has a balance of $890 on a credit card with an APR of 18.7%, compounded monthly. About how much will he save in interest over the course of a year if he transfers his balance to a credit card with an APR of 12.5%, compounded monthly? (Assume that Wilson will make no payments or new purchases during the year, and ignore any possible late-payment fees.) 
A.	$63.61
 	 	B.	$117.85
 	 	C.	$299.31
 	 	D.	$181.46