Xavier Is a Baseball Player Negotiating a Contract to Play

question 137

Multiple Choice

Xavier is a baseball player negotiating a contract to play for a team for one year. He is usually paid $10 million a year for playing, but the salary cap for his team means that he will have to be paid $5
Million this year and the remainder next year. If the interest rate is 8 percent, how much should that
Remaining amount be next year?

• A) $5.0 million
• B) $5.1 million
• C) $5.4 million
• D) $6.1 million

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Definitions:

Thorndike

An American psychologist famous for his work on learning theory that led to the development of operant conditioning within behaviorism.

Latent Learning

Learning that occurs without any obvious conditioning or immediate display of behavior and manifests later when suitable.

Extinction

In psychology, the gradual weakening of a conditioned response that results in the behavior decreasing or disappearing.

Generalization

The ability to apply the lessons learned from specific instances to broader, similar situations without being explicitly taught for every situation.