What Is the Outstanding Balance After 23 Payments on a 20-Year

question 125

Multiple Choice

What is the outstanding balance after 23 payments on a 20-year mortgage that has monthly payments of $1062.32 and an interest rate of 6.6% compounded monthly?

• A) $143 402.54
• B) $144 302.54
• C) $134 402.54
• D) $134 302.54
• E) $134 322.54

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Definitions:

Stimulus Satiation

A decrease in responsiveness to a stimulus after repeated presentations.

Aversive Conditioning

A form of behavioral therapy that involves teaching individuals to associate unwanted behaviors with unpleasant stimuli to reduce or eliminate those behaviors.

Time Out

A behavior modification technique used to eliminate undesirable behavior, especially in children and adolescents, by withdrawing all reinforcers for a period of time.

Systematic Desensitization

A behavioral therapy technique used to reduce phobic responses and anxiety through gradual exposure to the feared object or situation paired with relaxation exercises.