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A College Student Receives an Interest-Free Loan of $8,570 from a Relative

Question 105

Multiple Choice

A college student receives an interest-free loan of $8,570 from a relative. The student will repay $170 per month until the loan is paid off. After how many months will the student owe $5,000?


A) after 4.2 months.
B) after 21 months.
C) after 31 months.
D) after 29 months.
E) after 24 months.

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