Ziggy Is Considering Purchasing a New Car

question 106

Multiple Choice

Ziggy is considering purchasing a new car. The cash purchase price for the car is $39,200. What is the annual interest rate if Ziggy is required to make annual payments of $9,100 at the end of the next five years?

• A) 4%.
• B) 5%.
• C) 6%.
• D) 7%.

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Definitions:

Herzberg's Two-Factor Theory

A theory suggesting that employee satisfaction and motivation are influenced by two groups of factors: hygiene factors and motivators.

Maslow's Needs Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, in that order.

Creative Extent

The range or breadth of creativity and innovation demonstrated in problem-solving or project development.

Two-Factor Theory

A psychological theory proposing that employee satisfaction and dissatisfaction are influenced by two independent sets of factors: motivators and hygiene factors.