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Source: Princeton Review
Laura borrowed $240, interest free, from her parents to pay for her college education. If she pays back 5/2 percent of this amount quarterly, and has already paid $42.00, for how many months has she been paying back her loan?
A. 6
B. 7
C. 19
D. 21
E. 24
The OA is D
Laura borrowed $240, interest free, from her parents to pay for her college education. If she pays back 5/2 percent of this amount quarterly, and has already paid $42.00, for how many months has she been paying back her loan?
A. 6
B. 7
C. 19
D. 21
E. 24
The OA is D
