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To calculate the simple interest, use the formula: Interest = Principal * Rate * Time
Principal = $20,000
Rate = 8% = 0.08
Time = 5 years
Interest = $20,000 * 0.08 * 5 = $8,000
Therefore, the simple interest on the $20,000 loan at an interest rate of 8 percent after 5 years is $8,000.