Hayley Makes Annual End-Of-Year Payments of $6,260

question 7

Multiple Choice

Hayley makes annual end-of-year payments of $6,260.96 on a five-year loan with an 8 percent interest rate. The original principal amount was ________.

• A) $31,000
• B) $30,000
• C) $25,000
• D) $20,000

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Definitions:

Test-retest Reliability

A measure of the consistency of a psychological test or assessment over time, determined by administering the test to the same group of people on two different occasions.

Construct Validity

The accuracy of a test in measuring what it alleges to assess.

Test Standardization

The process of administering a test under consistent conditions to ensure the reliability and validity of the results.

Comparison Group

A control group used in an experiment that does not receive the experimental treatment, allowing researchers to compare outcomes.