The Unpaid Balance in an Account on May 1 Was

question 51

Multiple Choice

The unpaid balance in an account on May 1 was $223. A purchase of $17 was made on May 7. A $ 20 payment was made on May 20. The interest rate per month was 1.65% per month of the average daily balance. Find the new balance at the end of May.

• A) $205.01
• B) $221.65
• C) $225.08
• D) $223.78

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Definitions:

Systematic Desensitization

A treatment for phobias that attempts to reduce fear in many small steps by associating the feared thing with calmness.

Variable-Ratio Reinforcement

A schedule of reinforcement where a response is rewarded after an unpredictable number of responses, promoting a high and steady response rate.

Fixed-Ratio Reinforcement

A type of conditioning schedule where a response is reinforced only after a specified number of responses have occurred.

Variable-Interval Reinforcement

A schedule of reinforcement where responses are rewarded after unpredictable intervals of time, enhancing response rates and resistance to extinction.