Manuel borrowed $1,500 from his bank and signed a contract to make monthly payments for two years at 4% interest compounded annually, How much total interest will Manuel pay on this loan?

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asked Mar 20, 2022 216k views

3 votes

Manuel borrowed $1,500 from his bank and signed a contract

to make monthly payments for two years at 4% interest
compounded annually, How much total interest will Manuel
pay on this loan?

Mathematics
high-school

DRastislav asked

by DRastislav

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1 Answer

5 votes

Answer: 120

Explanation:

If you want the explanation tell me in the comments.

Benjamin Crouzier answered Mar 26, 2022

by Benjamin Crouzier

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