4300 is your principal
1.8% interest rate (change it into decimal form; 0.018)
2 years is our time
We'll now multiply our variables.
4300 x 0.018 x 2 = 154.80
This shows that in 2 years at their interest rate that they have earned 154.80.
We will add the $154.80 to the original borrowed amount of 4300.
$4454.80 will be how much they will owe after 2 years.
To find out the amount in 15 months we'll divide 15 months by 12 and we get 1.25 and now we multiply the numbers again.
4300 x 0.018 x 1.25 = 96.75
They will pay $96.75 in interest within 15 months and we'll add it to the 4300.
$4397 will be how much they will pay after 15 months.
