Having a Longer Term Loan

question 56

Multiple Choice

Having a longer term loan

• A) costs you more interest and therefore increases the cost of your loan.
• B) makes your monthly payments larger.
• C) is almost always the best alternative for credit users.
• D) gives you access to additional sources of financing.

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Definitions:

Positive Punishment

The presentation of a stimulus following a given behavior in order to decrease the frequency of that behavior.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior. Through operant conditioning, an individual makes an association between a particular behavior and a consequence (either a reward or punishment).

Reprimanding

The act of expressing to someone that they have done something wrong, often in a stern or formal manner.

Rude

Exhibiting or having a discourteous or impolite demeanor or behavior, often characterized by a lack of respect for others.