You Obtain a Loan of $3,000 Based on Simple Interest

question 33

Multiple Choice

You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12%, or 1% a month. If the first payment is $300, how much is the principal portion of the payment?

• A) $27
• B) $270
• C) $280
• D) $295

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Definitions:

Stimulus Substitution

A theory in classical conditioning suggesting that the conditioned stimulus acts as a substitute for the unconditioned stimulus, eliciting the same response.

Classical Conditioning

An educational mechanism where the consistent pairing of two stimuli occurs; the response which initially is drawn by the second stimulus, in time, is drawn by the first stimulus alone.

Conditioned Stimulus

A previously neutral stimulus that, after being repeatedly associated with an unconditioned stimulus, evokes a conditioned response.

Conditioned Fear

A learned response to a previously neutral stimulus that has become associated with a frightful event or situation.