Answer:
Tonya will pay the amount $45,000 as an interest to the bank.
Step-by-step explanation:
Principal Value(P) = $60,000
Rate of interest(R) = 5%
Time(T) = 15 years
Simple Interest = [tex]\frac{P \times R\times T}{100}[/tex]
⇒ S.I. = [tex]\frac{60,000 \times 5 \times 15}{100}[/tex]
= $45,000
So, Tonya will pay the amount $45,000 as an interest to the bank.
