The total amount Christian will pay is given by:
[tex]A=P(1+rt)[/tex]
where P is the principal, r is the interes rate and t is the time. In this case we have that P=15000, r=0.07 and t=2. Then we have:
[tex]\begin{gathered} A=15000(1+0.07(2)) \\ A=17100 \end{gathered}[/tex]
Hence he will pay $17,100 in total. Now, to find the monthly amount we divide the total by the number of months; in this case 24:
[tex]\frac{17100}{24}=712.50[/tex]
Therefore he will pay $712.50 each month.
