What's the Future Value of $1,950 After 5 Years If

question 24

Multiple Choice

What's the future value of $1,950 after 5 years if the appropriate interest rate is 6%,compounded monthly?

• A) $3,051.10
• B) $2,630.26
• C) $3,208.91
• D) $2,498.74
• E) $2,130.51

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Definitions:

Partial Reinforcement Extinction Effect

A phenomenon where behaviors reinforced intermittently are more resistant to extinction than behaviors reinforced continuously.

Disequilibrium Principle

A concept in economics and game theory where participants' strategies are not in perfect balance, leading to changing strategies over time.

Disequilibrium Principle

A concept in cognitive psychology suggesting that learning occurs when existing knowledge is challenged by new information, leading to cognitive growth.

Premack Principle

The Premack Principle is a psychological concept that states a more preferred activity can be used as a reward to reinforce the performance of a less preferred activity.