Answer:
A = $17,053.61
Step-by-step explanation:
The formula for calculating compound interest is
A = P(1 + r/n)^nt
Where,
A = interest + principal
P = principal = $15,000
r = interest rate = 2.15% =0.0215
n = number of periods = 2
t = time = 6 years
A = P(1 + r/n)^nt
= 15,000(1 + 0.0215/2)^2*6
= 15,000(1 + 0.01075)^12
= 15,000(1.01075)^12
= 15,000(1.1369071560258)
= 17,053.607340387
Approximately,
A = $17,053.61
