Question 1155411
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<pre>

Future value = {{{500*(1 + 0.025/4)^(15*4))}}} = 726.65 dollars.    <U>ANSWER</U>


From the formula, the meaning of each term should be clear to you.
</pre>

Solved.


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To see many other similar solved problems on compound interest accounts,  &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compound interest percentage problems</A> 

in this site ((introductory level), or into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/logarithm/Problems-on-discretely-compound-accounts.lesson>Problems on discretely compound accounts</A> 

(more advanced level).