Joshua uses the small business administration (sba) loan program to obtain a loan to expand his vending machine business. joshua borrows $25,000 for 2 years with a simple interest rate of 1.5%. determine the amount of money joshua must repay the sba after 2 years.

Step-by-step explanation:

Alright, lets get started.

Principal amount Joshua borrowed, P = $ 25000

rate of interest, r = 1.5 %

time, t = 2 years

simple interest =

simple interest =

Means $ 750 will be the interest of Joshua's loan.

So, Joshua needs to repay the SBA =

Hence, Joshua will repay $ 25750 to SBA after two years.   :   Answer

Hope it will help :)

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answer by yourhope:

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