You Have Borrowed $130,000 to Buy a New Motor Home

question 147

Multiple Choice

You have borrowed $130,000 to buy a new motor home. Your loan is to be repaid over 15 years at 8% compounded monthly. If you pay an extra $200 per month on the motor home, how many years will it take to pay off the loan?

• A)10.3 years
• B)11.5 years
• C)12.8 years
• D)13.3 years

---

Definitions:

Therapeutic Relationship

The professional bond between a therapist and a client, which is foundational for effective therapy and characterized by trust, respect, and understanding.

Existential Therapy

A form of psychotherapy that emphasizes individual freedom, choice, and responsibility, focusing on the client's experience in the present moment.

Behavior Therapy

Behavior Therapy is an approach to psychotherapy that focuses on modifying dysfunctional behaviors through conditioning and other learning techniques.

Hawthorne Effect

The alteration of an individual's behavior due to their awareness of being observed, significant in research and experimental settings.