Question: If a person borrows $5,400 and repays the loan by paying $300 per month to reduce the loan and 1% of the unpaid balance each

If a person borrows $5,400 and repays the loan by paying

If a person borrows $5,400 and repays the loan by paying $300 per month to reduce the loan and 1% of the unpaid balance each month for the use of the money, what is the total cost of the loan over 18 months? The total cost of the loan is $ (Type a whole number.)

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