Tonya took out a loan to help pay for her house. She borrowed $70,000 for 15 years at a yearly simple interest rate of 5%. How much interest will she end up paying the bank?

To calculate the total interest on a simple interest loan, you can use the formula:

\[ \text{Interest} = P \times r \times t \]

where:

• \( P \) is the principal amount (the initial amount borrowed),
• \( r \) is the yearly interest rate (as a decimal), and
• \( t \) is the time in years.

In this case:

• \( P = 70,000 \)
• \( r = 5% = 0.05 \)
• \( t = 15 \)

Plugging in the values:

\[ \text{Interest} = 70,000 \times 0.05 \times 15 \]

Calculating this step-by-step:

1. Calculate \( 70,000 \times 0.05 \): \[ 70,000 \times 0.05 = 3,500 \]

2. Then multiply that result by 15: \[ 3,500 \times 15 = 52,500 \]

Thus, the total interest Tonya will end up paying the bank is $52,500.

The correct answer is: A. $52,500