Choose the One Alternative That Best Completes the Statement or Answers

question 506

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
Solve the problem.
-A local bank advertises that it pays interest on savings accounts at the rate of 3% compounded monthly. Find the effective rate. Round answer to two decimal places.

• A) 3.04%
• B) 36%
• C) 3.40%
• D) 3.44%

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Definitions:

Fundamental Attribution Error

The tendency to overestimate the effect of disposition or personality and underestimate the effect of situational factors in explaining other people's behavior.

Actor-Observer Effect

The tendency to attribute one's own actions to external causes while attributing other people's behaviors to internal causes.

Social Psychologist

A professional who studies how individuals think, influence, and relate to one another within a social context.

Behavioral Psychologist

A behavioral psychologist studies and applies principles of behaviorism, focusing on observable behaviors and the ways in which learning occurs through interactions with the environment.