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.