Answer: He will have $1721.28. after 4 years.
Step-by-step explanation:
The formula we use to find the compounded amount A is :
[tex]A=P(1+r)^t[/tex], where P= principal value, r = rate of interest , t= time.
As per given , we have
P=$1500 , r=3.5%=0.035 , t= 4 years
Money he will have after 4 years = [tex]1500(1+0.035)^4[/tex]
[tex]=1500(1.035)^4\\\\=1721.28450094\approx1721.28[/tex]
Hence, he will have $1721.28. after 4 years.
