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A College Student Receives an Interest-Free Loan of $8,875 from a Relative

Question 128

Multiple Choice

A college student receives an interest-free loan of $8,875 from a relative. The student will repay $155 per month until the loan is paid off. After how many months will the student owe $5,000?


A) after 32 months.
B) after 26 months.
C) after 22 months.
D) after 25 months.
E) after 12.5 months.

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