How Many Periods Would It Take for the Deposit to Grow

question 85

Multiple Choice

How many periods would it take for the deposit to grow to $6,798 if the interest is compounded semiannually?

• A) 17
• B) 19
• C) 21
• D) 25

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Definitions:

Mathematical Average

The sum of a list of numbers divided by the count of numbers in the list, commonly referred to as the mean.

Median

The middle value in a data set when it is arranged in ascending or descending order, effectively dividing the data set in half.

Set Of Data

A collection of values or observations, that can be analyzed to find patterns and draw conclusions.

Mode

The number that has the highest frequency of occurrence in data.