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Dan Pickerell has a mortgage balance of 150,000 in a floating-rate mortgage. The spread is 2.25% above 12-month LIBOR. The posted reference LIBOR rate was

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Dan Pickerell has a mortgage balance of 150,000 in a floating-rate mortgage. The spread is 2.25% above 12-month LIBOR. The posted reference LIBOR rate was 2.25% for the coming month. How much interest will Dan Pickerell owe on his mortgage over the next month? O a. 281.25 b. 562.50 O c. 3,375.00 O d. 6,750,00

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