Which One of the Following Financing Terms Will Provide the Lowest

question 70

Multiple Choice

Which one of the following financing terms will provide the lowest monthly payment for a fixed-rate $175,000 mortgage? (No calculations are required.)

• A) 10-year, 5.5 percent
• B) 10-year, 6.0 percent
• C) 15-year, 5.5 percent
• D) 15-year, 6.0 percent
• E) 30-year, 5.5 percent

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Definitions:

Partial Reinforcement

A conditioning strategy where only a portion of responses are reinforced, making the learned behavior more resistant to extinction.

Higher-Order Conditioning

A process in classical conditioning by which a stimulus that already elicits a conditioned response is used as a conditioned stimulus to condition a response to a new stimulus.

Latent Learning

Learning that occurs without any obvious reinforcement or immediate demonstration of the learned behavior or knowledge, becoming apparent only when a situation calls for it.

Observational Learning

A learning process where individuals learn new behaviors or information by watching the actions of others.