Paul Is Deep in Credit Card Debt

question 25

Multiple Choice

Paul is deep in credit card debt.His goal state is to be debt free,but he doesn't have nearly enough money to pay off his debt at the moment.According to a means-ends analysis,Paul should:

• A)revise his goal state such that it is more realistic with his current situation.
• B)acquire the money by any means necessary;the ends justify the means.
• C)use cognitive reappraisal techniques to change the way he feels about being in debt.
• D)take small steps to move from his current situation to one that is closer to his end goal.

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Definitions:

Maturity Value

The amount that will be received at the maturity date of an investment, including the principal and any accrued interest.

Note Receivable

A written promise that one party will pay another party a specified sum of money, either on demand or at a set future date.

Interest Due

The amount of interest payment required to be paid on a loan or debt at a specified date.

Maturity Value

The amount that will be received at the maturity date of a financial instrument, typically including the principal and the interest.