Solve the Problem

question 14

Multiple Choice

Solve the problem. Round rates to the nearest tenth of a percent, dollar amounts to the nearest cent, and time to the nearest day.
-Leon Harding receives proceeds of $5,095 after signing a 180-day note for $5,400. Find the discount rate.

• A)11.6%
• B)11.3%
• C)11.7%
• D)15.3%

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Definitions:

Albert Ellis

An American psychologist who developed Rational Emotive Behavior Therapy (REBT), a form of cognitive-behavioral therapy emphasizing the role of beliefs and attitudes in emotional distress.

Term Paper

A research paper written by students over an academic term, representing a large portion of a grade.

Cybertherapist

A professional who provides psychological support and counseling through digital platforms, including video calls, messaging, or online programs.

Cognitive-behavioral Therapy

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic procedure.