Emmanuel wants to compare interest rates on different types of loans.

Complete the table.

loan type =payday loan
Monthly Interest Rate=15.00%
Monthly Growth Factor = 1.15
Growth Factor per Year=5.3503
Interest Rate per Year =435.03%

loan type = 30 yr mortgage
Monthly Interest Rate=0.53%
Monthly Growth Factor =
Growth Factor per Year=
Interest Rate per Year =

loan type = credit card
Monthly Interest Rate=2.00%
Monthly Growth Factor = 1.02
Growth Factor per Year= 1.2682
Interest Rate per Year =

loan type = private student loan
Monthly Interest Rate=1.21%
Monthly Growth Factor = 1.0121
Growth Factor per Year=
Interest Rate per Year =

loan type = 30 yr mortgage
Monthly Interest Rate=0.53%
Monthly Growth Factor =
Growth Factor per Year=
Interest Rate per Year =

loan type = Federal Student loan
Monthly Interest Rate=0.40%
Monthly Growth Factor =
Growth Factor per Year=
Interest Rate per Year =