Charlotte takes a bank loan of 10000$ . The interest rate is 4 % per annum and repayment period of 5 years. The loan will be paid monthly ie, the number of installments is 60. What will Charlotte's total cost of the loan be if it is a 1 ) the straight-line amortization , ie, the same amount is amortized monthly, 2) installment loans ie the total amount (principal + interest) is paid each month?

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