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Imagine you are shown the word "DOG" and asked one of the following questions about that word. According to the principles of elaborative encoding, which of the following questions is going to lead to the best memory performance?
Extra Payments
Additional payments made over the required minimum payment on debts like loans or mortgages, aimed at reducing the principal balance more quickly.
Total Interest
The total amount of interest paid over the lifetime of a loan.
Life of the Loan
The duration over which a borrower is required to make payments until the loan is paid off in full.
Compounded Monthly
A process where interest earned is added to the principal, so that from that moment on, interest is earned on interest, recalculated on a monthly basis.
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