Solve the Problem. -How Long Will It Take for $1900 to Grow to to Grow

question 13

Multiple Choice

Solve the problem.
-How long will it take for $1900 to grow to $2200 at an interest rate of 3.7% if the interest is compounded quarterly? Round the number of years to the nearest hundredth.

• A) 3.98 yr
• B) 4.04 yr
• C) 15.92 yr
• D) 31.44 yr

---

Definitions:

Macroeconomics

A branch of economics that studies how an economy as a whole functions, including total national income, total levels of employment, and how general price levels are determined.

Economy-Wide Phenomena

Broad trends or occurrences that affect the overall economic system, including inflation, unemployment, and national income.

Production Possibilities Frontier

An exhibit that delineates all possible highest production outputs for two types of goods, with consideration of a variety of inputs comprising resources and others.

DVD Production

The process of creating digital versatile discs (DVDs), which involves replication, printing, and packaging of content.