Suppose You Borrowed $15,000 at a Rate of 8

question 92

Multiple Choice

Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years.How much would you still owe at the end of the first year, after you have made the first payment?

• A) $10,155.68
• B) $10,690.19
• C) $11,252.83
• D) $11,845.09
• E) $12,468.51

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Definitions:

Behavior Genetics

The study of the role genetic factors play in shaping behaviors, traits, and abilities.

Observable Responses

Behaviors or actions that can be seen or measured as a reaction to stimuli.

Behavioral Perspective

An approach in psychology focusing on observable behaviors and the ways in which the environment and learning influence actions.

Social-Cultural

Pertaining to the influences that social and cultural contexts have on human behavior and thinking.