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Tonya took out a loan to help pay for her house. She borrowed $30,000 for 15 years at a yearly simple interest rate of 5%. How much interest will she end up paying the bank?
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Tonya took out a loan to help pay for her house. She borrowed $30,000 for 15 years at a yearly simple interest rate of 5%. How much interest will she end up paying the bank?

User Stumblor
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1 Answer

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Interest=30,000×0.05×15=22,500
User Esdef
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