SOLUTION: laura borrowed $240 ,interest free, from her parents to pay for her college eduction.if she pays back 2 1/2 percent of this amount quarterly,and has already pais $42 ,for how many

Question 711623: laura borrowed $240 ,interest free, from her parents to pay for her college eduction.if she pays back 2 1/2 percent of this amount quarterly,and has already pais $42 ,for how many mounths has she been paying back her loan?
a) 6
b) 7
c) 19
d) 21
e) 24
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!

given:
she pays back percent which is of the amount of $ quarterly (every three months) and has already paid $, then we have
... is number of quarters

.....she has been paying back her loan for quarters which is months
so, answer is d)

or, you can do it this way:

if quarterly, she pays interest monthly
then ..... is number of months

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