Owen Expects to Receive $30,000 at the End of Next

question 39

Multiple Choice

Owen expects to receive $30,000 at the end of next year from a trust fund. If a bank loans money at an interest rate of 8.2%, how much money can he borrow from the bank on the basis of this information?

• A) $2460
• B) $13,863
• C) $27,726
• D) $32,460

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Definitions:

Door-In-The-Face

A strategy where an initial, larger request is made knowing it will probably be refused, followed by a smaller more reasonable request.

Foot-In-The-Door

A persuasion technique that involves getting a person to agree to a large request by first setting them up to agree to a modest request.

Change Of Actions

The process of modifying one's behavior or actions in response to external or internal factors.

Group Pressures

The influence exerted by a social group on individual members to behave in certain ways or conform to group norms and expectations.