Answer:
The total of his money for 2 years is 3,120
Compounded means the interest added each month
in 2 years there's 24 months
4.5%• 24= 108%
so 1500 have a 100 percentage
Let's do a math
Let's find the total of his money for 2years
108%+100%= 208%
1500• 2.08= 3,120
Next is we find the total of the interest
3,120-1500= 1,620
so the total of the interest added in his money is 1,600
Hope it helps.
