ANSWER:
C - $7.50
REASONING:
If I placed $1,000 in a savings account with an interest rate of 4.5% per month, I would earn $45 in one month.
$1000x.045=$45
If I placed $1,000 in a savings account with an interest rate of 3.75% per month, I would earn $37.50 in one month.
$1000x.0375=$37.50
I would earn an additional $7.50 in one month by placing the money in the savings account with the 4.5% interest rate.
$45-$37.50=$7.50
