On January 20, Derek Signed a Contract to Pay Violet

question 48

Multiple Choice

On January 20, Derek signed a contract to pay Violet $1,800 plus interest on August 15 and $2,200 plus interest on September 12. Both payments carried a 6% simple interest annually. Violet then sold both contracts to Stephanie on May 10 at a rate of 3.5% annually. Determine how much she received Round to the nearest $100.

• A) $5,267.29
• B) $4,859.27
• C) $4,459.27
• D) $4,039.27
• E) $3,827.29

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Definitions:

Secondary Reinforcer

A stimulus that has become rewarding through its association with a primary reinforcer, which does not inherently satisfy a biological need.

Shaping

A method of training by which successive approximations towards a desired behavior are reinforced.

Fixed Interval

In the context of operant conditioning, a schedule of reinforcement where rewards are delivered at fixed time intervals, provided the correct response is made.

Variable Interval

A reinforcement schedule in which reinforcements are given after unpredictable time durations.