What is the maximum that rate that the simple account loan, Financial Management

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What is the maximum that rate that the simple account loan

John needs to borrow $20,000 today for a down payment on his house. He plans on paying back the loan in one lump payment in 5 years. Loan option 1 earns 8% compound interest. Loan option 2 earns simple interest. What is the maximum that rate that the simple account loan could earn for John to choose it over the compound loan?

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