Question 133195
THE FORMULA IS:
P(1+R/N)^T*N WHERE R=ANNUAL RATE N=NUMBER OF PERIODS PER YEAR & T=NUMBER OF YEARS.
15,000(1+.0325/12)^3*12
15,000(1+.0027083)^36
15,000(1.0027083)^36
15,000*1.102264842
$16,533.97 ANSWER.