Question 947994
I think you misinterpreted the interest rate. 
I think it's (3.25-1)% or 2.25%
If prime is less than 1%, then use 1% since if it's less than 1 you would have a negative interest rate.
{{{F=P(1+i)^n}}}
Since it's compounded monthly, adjust the interest rate.
{{{I=2.25/(100*12)=0.001875}}}
Adjust the time periods,
{{{n=5*12=60}}}
So then,
{{{F=15000(1+0.001875)^60}}}
{{{F=15000(1.001875)^60}}}
{{{F=15000(1.1189544)}}}
{{{F=16784.32}}}
.
.
.

b)
{{{I=F-P}}}
{{{I=16784.32-15000}}}
{{{I=1784.32}}}