On September 15, Miguel Has Student Loans Totalling $25,000

question 33

Multiple Choice

On September 15, Miguel has student loans totalling $25,000. Miguel agreed to a $350 per month repayment schedule at which time the annual interest rate was 7.45%. Determine the balance of the loan at the end of November.

• A) $25,666.55
• B) $25,555.44
• C) $24,444.55
• D) $24,333.22
• E) $24,666,33

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Definitions:

Stages of Change Model

A theory describing the process by which individuals move through a series of stages when attempting to change a behavior, including precontemplation, contemplation, preparation, action, and maintenance.

Realistic Expectations

The anticipation or belief about what might reasonably happen or be achieved in the future.

Optimistic Appraisal

The process of interpreting situations and future events in a positive, hopeful manner.

Internal, Stable, and Global

Terms used in psychology to describe an individual's attribution style that perceives causes of events as internal to oneself, unchanging over time, and consistent across different contexts.