As Discussed in the Text, There Are a Number of Cognitive

question 68

Multiple Choice

As discussed in the text, there are a number of cognitive tendencies found among gamblers that have the effect of encouraging these people to keep gambling. One of the MOST common is the tendency to see losses as ____.

• A) "near wins" (not losses at all)
• B) "par for the course" (as a certain number of losses are expected)
• C) "practice runs" (helping to improve technique in the long term)
• D) "not their fault" (special exceptions due to circumstances)

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Definitions:

Future Value

The value of an asset or cash at a specific future date, based on its expected growth over time.

Compounded Monthly

Interest calculation method where the accrued interest is added to the principal sum each month, leading to interest on interest.

Interest Charge

A fee charged by a lender to a borrower for the use of borrowed money, often expressed as an annual percentage of the principal.

Inherited Money

Wealth or assets received from someone after their death.