Juan took out a $5,000 simple interest personal loan which resulted in him paying $800 in interest. What
were the terms of his loan?
O A 3-year period, with a simple interest rate of 3%
O A 5-year period, with a simple interest rate of 5%
O A 4-year period, with a simple interest rate of 4%
O A 2-year period, with a simple interest rate of 2%
