Respuesta :

meerkat18
The future worth (F) of the money invested now (P) with the compounded interest (i) is calculated by the equation,
                                       F = P x (1 + i)^n
where n is the number of years. Substituting the known values,
                                       F = ($15,000) x (1 + 0.04)^4
The value of F is $17,547.88.
olemakpadu
P = 15000, r = 4% = 0.04 per year, n = 4 years.

A = P(1 + r)ⁿ

A = 15000(1 + 0.04)⁴

A ≈ 15000(1.04)⁴  ≈ 17547.88

Interest = Amount - Principal = 17547.88 - 15000 =2547.88

Interest  ≈ $ 2547.88

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