How Many Periods Would It Take for the Deposit to Grow

question 17

Multiple Choice

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

• A)17
• B)19
• C)21
• D)25

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Definitions:

Rival

in the context of goods, refers to a type of good for which one person's use diminishes others' ability to use it.

Club Goods

Goods that are excludable but not rival in consumption

Private Goods

Products or services that are consumed by one individual and cannot be used simultaneously by others.

Rival in Consumption

A characteristic of a good whereby its consumption by one individual prevents simultaneous consumption by another individual.