What Is the Interest Rate of a 6-Year, Annual $3,000

question 133

Multiple Choice

What is the interest rate of a 6-year, annual $3,000 annuity with present value of $14,000?

• A) 5.64 percent
• B) 7.69 percent
• C) 10.17 percent
• D) 11.32 percent

---

Definitions:

Learned Response

A behavior that is developed as a result of conditioning or learning.

Latent Learning

Learning that occurs without any obvious reinforcement of the behaviour or associations that are learned until there is a reason to demonstrate it.

Reflex

A rapid, automatic response to a stimulus, not requiring the involvement of consciousness, designed to protect the body or facilitate basic functions.

Insight Learning

"A form of problem solving in which the organism develops a sudden insight into or understanding of a problem’s solution."