each month to reduce the loan. What is the total cost of this loan, that is, what is the sum of all the monthly interest payments? Cost of loan = Problem 10. (1 point) The government has decided on a tax rebate program to stimulate the economy. Suppose that you receive $700 and you spend 70% of this, and each person who receives what you spend in turn spend 70% of what they receive, and this process continues indefinitely. What is the total amount spent (to the nearest dollar) that results from this government action? Total amount spent =