If the Add-On Method Is Used to Calculate a Finance

question 64

True/False

If the add-on method is used to calculate a finance charge of $150.80 on a $2,200 loan,the amount to be repaid is $2,200.

---

Definitions:

Reaction Formation

A psychological defense mechanism where individuals behave in a manner opposite to their actual feelings or impulses.

Endorphins

Natural chemicals in the body that interact with the brain's receptors to reduce pain and boost happiness.

Well-being

The state of being comfortable, healthy, or happy, encompassing physical, mental, and emotional health.

Alarm Stage

The initial phase of the body's response to stress, triggering a state of alertness or a "fight or flight" reaction.