Mr. Lawson needs to borrow 8000 to help pay his son's college tuition. He explored options from several banks. Which option allows Mr. Lawson to pay the smallest amount of interest?

BANK: INTREST RATE: LOAN TERM:
United Bank 4% simple interest. 6 years
Nations First 3.8% simple interest. 7 years
City Credit Union 5.1% simple interest. 4 years
Priority Bank 4.2% simple interest. 5 years.