To Buy a Car,you Are Given Two Options

question 46

Multiple Choice

To buy a car,you are given two options.Option 1 is to pay $20,000 cash today.Option 2 is to make monthly payments of $500 for as long as necessary,first payment made today.If the dealer charges interest at j₁₂ = 5.4%,how many payments are needed,including the very first one,if the final payment is increased by a balloon payment?

• A)42
• B)43
• C)44
• D)45

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Definitions:

Interactionist Perspective

A theoretical framework that emphasizes how individuals interact with one another and how social relationships shape behavior.

Underextension

A language development error in which a child applies a word too narrowly, only to a specific object rather than to all objects of the same class.

Learning Theory

A broad framework that describes how individuals absorb, process, and retain knowledge during learning, encompassing various principles and theories of cognition.

Nativist Theory

A perspective in developmental psychology that suggests humans are born with innate knowledge or abilities, particularly in aspects like language acquisition.