A Retailer Offers a Revolving Credit Account to Its Customers;interest

question 6

Multiple Choice

A retailer offers a revolving credit account to its customers;interest is charged at 18 percent per year.If a customer buys $400 in merchandise in November and carries the total balance over for one month,how much must the customer remit to pay the account in full?

• A)$400
• B)$403
• C)$406
• D)$409

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Definitions:

Sensory Input

Information that is received by the senses (such as sight, sound, touch, taste, and smell) and then interpreted by the brain.

Perceptual Constancy

A psychological phenomenon in which the perception of an object remains unchanged despite variations in its presentation or viewing conditions such as lighting, angle, or distance.

Proximal Stimuli

The stimuli that directly interact with the senses, as opposed to distal stimuli which are objects and events in the environment that provide information for the proximal stimuli.

Distal Stimuli

Objects or events in the external world that provide the basis for the perception of our immediate environment, as opposed to the sensory inputs that they generate.