The Jepsens Are Buying a $24,900 Car and Financing It

question 157

Multiple Choice

The Jepsens are buying a $24,900 car and financing it over the next 2 years.They secure a 5.7% loan. What will be the total of the monthly payments? Round to the nearest cent.

• A)$13,202.65
• B)$26,405.29
• C)$22,444.50
• D)$79,215.87
• E)$8,801.76

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Definitions:

Fundamental Attribution Error

The tendency to overestimate the influence of personal characteristics and underestimate the role of situational factors in explaining others' behavior.

Self-Serving Bias

Self-serving bias is a cognitive bias that leads individuals to attribute their successes to personal qualities and their failures to external factors, protecting self-esteem.

Distinctiveness

The quality of being easily distinguished or set apart from others due to unique attributes or characteristics.

Consistency

The quality of being uniform, stable, and free from contradiction over time.