Question: You repay a $ 5 , 0 0 0 loan from your parents with a single payment of $ 6 , 0 5 0 .

You repay a $5,000 loan from your parents with a single payment of $6,050. Your parents charged 6% simple interest. How many MONTHS ago did you borrow the money?
35
3.5
13.8
42
You repay a $ 5 , 0 0 0 loan from your parents

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