You have agreed to loan a friend $5000 for 60 months at a simple interest rate of 8% per year. a. How much interest (in dollars) will you receive from this loan? (show your solution handwriting or in Word document) b. How much will your friend pay you at the end of the whole period of 60 months? (show your solution handwriting or in Word document) c. If the interest rate was 0.08 per year compound interest, how will this change affect the amount that your friend pays you at the end of 60 months? What would be difference in the due amounts between simple interest and compound interest? (show your solution handwriting or in Word document)