Walter wants to deposit $1,500 into a certificate of deposit at the end of each

  $10,202.87

Explanation:

The balance will be the sum of a 6-term geometric sequence with first term 1500 and common ratio 1.05. The sum of such a sequence is given by ...

  sn = a1(r^n -1)/(r -1)

We have a1=1500, r=1.05, n=6, so the sum is ...

  s6 = 1500(1.05^6 -1)/(1.05 -1) = 10,202.87

Walter's account balance after the 6th deposit will be $10,202.87.

Explanation.

Inelastic Demand refers to the concept of microeconomics which implies that the quantity demand of commodities won't be affected by the rise or drop in price. This concept can be reflected in everyday life commodities such as sugar, salt, and wheat.

For example: People won't buy sugar more than they need if price is down or they won't buy less if the price is high, they would buy the quantity they require.