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George and Frank borrow $ 4,600 each, for a period of 2 years, at an interest rate of 1% effective monthly
George and Frank borrow $ 4,600 each, for a period of 2 years, at an interest rate of 1% effective monthly. George repays the interest owed at the end of each month and repays the initial principal at the end of the 2 years. Frank repays his loan with 24 equal payments, made at the end of each month. Calculate the total amount of interest paid on the two loans. Round your answer to the nearest whole number.
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