Wally Currently Has a Balance of $14,500 on His Credit

question 53

Multiple Choice

Wally currently has a balance of $14,500 on his credit cards and he is having a hard time making the minimum payments on them. He has missed several payments and is now paying the default APR of 29.99%. He and his wife own a nice home with $40,000 in equity. They have $7,500 in a certificate of deposit with a 4% APR. He has come to you in tears asking for advice. What would you tell him to do?

• A) Seek out a non-profit credit counseling company.
• B) Cash out his CD and pay down his credit cards.
• C) Become a convenience user, and maintain just one credit card.
• D) Take out a second equity loan on the house.
• E) All of the above.

Describe the principles behind and the effectiveness of behavior modification techniques.

Understand the fundamental principles and concepts of Skinner's behaviorism, including operant conditioning.

Identify the differences between Skinner's research approach and those of other personality theorists.

Recognize the methodologies used by Skinner for obtaining data and his views on statistical analysis.

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Definitions:

Standard Deviations

A measure used in statistics to quantify the amount of variation or dispersion of a set of values.

Strong-Form Efficient

A form of market efficiency that asserts all information, public and private, is fully reflected in stock prices, negating any insider advantages.

Historical Prices

Historical prices refer to the recorded prices or values of an asset or investment over previous time periods, serving as a data point for analyzing trends.