Use Table 12-2 from Your Text to Calculate the Amount

question 126

Short Answer

Use Table 12-2 from your text to calculate the amount of the periodic payment required to amortize (pay off) the loans, rounding to the nearest cent: $$\begin{array} { l l l l l l } \text { Loan } & \text { Payment } & \text { Term of } & \text { Nominal } & \text { Interest } & \text { Present Value } \\\underline{\text { Payment }} & \underline { \text { Period } } & \underline { \text { Loan } } & \underline { \text { Rate } } & \underline { \text { Compounded } } & \underline { \text { (Amount of Loan) } ) } \\& \text { every 3 months } & 9 \text { years } & 12 \% & \text { quarterly } & \$ 15,000\end{array}$$

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Definitions:

Unconditioned Stimulus

In behavioral psychology, a stimulus that naturally and automatically triggers a response without the need for prior learning.

Neutral Stimulus

A stimulus that initially produces no specific response other than focusing attention, before conditioning associates it with an unconditioned stimulus.

Unconditioned Response

An automatic, natural reaction to a stimulus that occurs without any prior learning or conditioning.

Food Reward

The pleasure and sense of satisfaction experienced after eating, which can be a powerful motivation for food consumption and choices.