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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?
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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?
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Dec 23, 2015
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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?
Mathematics
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I=PRT
I=50,000(5/100)15
I=37,500
Gderaco
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Dec 27, 2015
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Gderaco
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