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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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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?

User DRastislav
by
7.8k points

1 Answer

5 votes

Answer: 120

Explanation:

If you want the explanation tell me in the comments.

User Benjamin Crouzier
by
7.4k points
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