Do you see the problem in his funny calculation? Taking 1.5m loan at 16% monthly interest, after one year, it becomes 1.5+ 1.5*0.16*12 not 1.5*1.16*12.
Is 1.5+1.5*0.16*12 equal to 1.5*12+1.5*0.16*12 ? Wonder which university he took his math classes.