Decisions That Are Routine and Deal with Situations in Which

question 148

Multiple Choice

Decisions that are routine and deal with situations in which the factors are familiar and have occurred in the past are called ____ decisions.

• A) nonprogrammed
• B) satisficing
• C) rational
• D) programmed
• E) noninnovative

---

Definitions:

Ordinary Annuity

A series of equal payments made at regular intervals, with the interest compounding at the end of each period; commonly found in retirement accounts and loan repayments.

Ordinary Annuity

A financial product resulting in payments of a fixed amount received or paid at the end of period intervals.

Compounded Monthly

The process of adding interest to the principal sum of a loan or deposit, or in other words, interest on interest, with this process happening every month.

Compounded Monthly

A method of calculating interest where the accrued interest is added to the principal each month before the next interest calculation.