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

I = PRT

I = 50,000 * 0.05 * 15

I = ?

Answer 2

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 3

12