3. Small Business Administration Loan Joshua uses the Small Business Administration (SBA) Loan Program to obtain...

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3. Small Business Administration Loan Joshua uses the Small Business Administration (SBA) Loan Program to obtain a loan to help expand his health food store. Joshua borrows $45,000 for 2 years with a simple interest rate of 1.5%. Determine the amount of money Joshua must repay the SBA after 2 years. Simple Interest Formula Interest = principal Xrate X time i = prt 3. Small Business Administration Loan Joshua uses the Small Business Administration (SBA) Loan Program to obtain a loan to help expand his health food store. Joshua borrows $45,000 for 2 years with a simple interest rate of 1.5%. Determine the amount of money Joshua must repay the SBA after 2 years. Simple Interest Formula Interest = principal Xrate X time i = prt