2. Snoopy lends Charlie Brown L, which Charlie Brown repays with 36 end of month...
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2. Snoopy lends Charlie Brown L, which Charlie Brown repays with 36 end of month payments of 500. The nominal rate of interest is i convertible monthly. Charlie Brown misses his 18th payment. As a result, the outstanding loan balance just after Charlie Brown makes the 36th scheduled payment is still 560.8430083. Charlie Brown pays off the debt with a payment occurring exactly one month after the 36th scheduled payment. Find the increased amount of interest paid during the life of the loan due to Charlie Brown defaulting on the 18th payment
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