Benjamin Is Studying to Be an Accountant and Wants to Go

question 79

Multiple Choice

Benjamin is studying to be an accountant and wants to go to law school because tax lawyers make loads of money.He thinks that lots of money and an expensive house and car will make him happy.Based on what the authors of your text report on affective forecasting, how good is he likely to be at predicting what will make him happy in the future?

• A) very accurate most of the time
• B) moderately accurate most of the time
• C) not very accurate much of the time
• D) only accurate when the stakes are high

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Definitions:

365-Day Year

A convention used in interest calculations assuming a full year consists of 365 days.

Total Amount

The complete sum or aggregate of quantities, such as the final amount due for payment or the sum total of assets.

Simple Interest

Interest calculated only on the initial amount of money deposited or loaned, not on any interest accrued over time.

Ordinary Interest

Interest calculated based on a 360-day year, often used in banking for loans and savings.