To find out how much money Jeff has left after spending a portion on lunch, we first need to determine how much he spent.
Jeff had $20 and spent \(\frac{3}{8}\) of his money on lunch. To find out how much that is:
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Calculate the amount spent: \[ \text{Amount Spent} = \frac{3}{8} \times 20 = \frac{60}{8} = 7.50 \]
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Calculate the remaining amount: \[ \text{Remaining Amount} = 20 - 7.50 = 12.50 \]
So, Jeff has $12.50 left.
The correct answer is $12.50.