An Error in Explanation That Relies on the Fulfillment of an Ultimate

question 28

Multiple Choice

An error in explanation that relies on the fulfillment of an ultimate purpose is called

• A)tautology.
• B)teleology.
• C)reductionism.
• D)spuriousness.
• E)ecological fallacy

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Definitions:

Simple Interest

Interest calculated only on the principal amount of a loan or investment, rather than on previously earned interest.

Monthly Basis

pertaining to or calculated over the period of one month.

Amortized Loan

A loan with scheduled periodic payments that consist of both principal and interest, designed to pay off the debt by the end of the term.

Effective Rate

The actual interest rate earned or paid on an investment, loan, or other financial product, accounting for the effect of compounding.