Simple interest computed at the rate

Reference no: EM13867697

1.A company has issued a 5-year loan of $90,000 to a new vice president to finance a home improvement project. The terms of the loan are that his to be paid back in full at the end of 5 years with simple interest computed at the rate of 8 percent per year. Determine the interest which must be paid on the loan for the 5-year period.

Reference no: EM13867697

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