Our P = 100, r = .08, n = 1 (annually means once a year), and t = 15. Filling in accordingly, we have [tex]A(t)=100(1+ \frac{.08}{1})^{(1)(15)} [/tex]. Simplifying a bit gives us [tex]A(t)=100(1+.08)^{15}[/tex] and [tex]A(t)=100(1.08)^{15}[/tex]. Raising that number inside the parenthesis to the 15th power gives us [tex]A(t)=100(3.172169114)[/tex]. Multiplying to finish means that A(t) = $317.22
