What is the total cost on an easy-access loan of $2000 with a monthly fee of 20% for 30 days?

To find the total cost, you will find what 20% of $2000 is and then add it to the starting amount of $2000.

1. To find 20% of 2000, take 0.2 x 2000. This equals $400.

2. Add $2000 + $400 to get $2400. This is your total cost.