Use the following compound interest formula to complete the problem. Rodney owes $1,541.05 on his credit card. His card has an APR of 16.29%, compounded monthly. Assuming that he makes no payments and no purchases, how much will he owe after one year? a. $1,561.97 b. $1,811.70 c. $1,792.09 d. $1,541.05 Please select the best answer from the choices provided