A $60,000 Loan at 12% Compounded Semi-Annually Is to Be

question 90

Multiple Choice

A $60,000 loan at 12% compounded semi-annually is to be repaid by monthly payments of $1,000.
-How much will the principal be reduced by payments 13 to 24 inclusive?

• A) $5,978.87
• B) $6,021.13
• C) $11,147.84
• D) $6,101.66
• E) $5,898.34

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Definitions:

Masturbatory Satiation

A behavioral therapy technique used to reduce undesired sexual arousal by encouraging masturbation until a temporary decrease in sexual drive occurs.

Orgasmic Reorientation

A therapeutic approach aimed at changing a person's sexual orientation or preferences.

Aversion Therapy

A form of psychological treatment in which an undesirable behavior is paired with an unpleasant stimulus to reduce the frequency of the behavior.

Transvestic Disorder

A condition characterized by an intense sexual arousal from cross-dressing, which may cause distress or impairment in functioning.