Tonya took out a loan to help pay for her house. She borrowed $50,000 for 15 years at a yearly simple interest rate of 5%. How much interest will she end up paying the bank?

Question

Christopherhp · Answer

I=PRT 
 I=50,000(5/100)15 I=37,500

Tonya took out a loan to help pay for her house. She borrowed $50,000 for 15 years at a yearly simple interest rate of 5%. How much interest will she end up paying the bank?

Answer (1)

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