Question: 13. (-/1 Points) DETAILS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER In one instance, a financial institution loaned you $30,000 for two years at an

13. (-/1 Points) DETAILS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER In one instance, a financial institution loaned you $30,000 for two years at an APR of 4.75% for which you must make monthly payments. In a second instance, you loaned a financial institution $30,000 for two years at an APR of 4.75% compounded monthly. What is the difference in the amount of interest paid? (Round your answer to the nearest cent.) etlook

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