Question

You want to deposit 15,000 in a bank at an interest rate of 7 percent per year. What is the future value of this money after three years?

Answer 1

Answer: 18,150

Step-by-step explanation: 7% of 15000 is 1,050. Multiply that by 3 you get 3,150. Then you add that 15,000 to 3,150 and get 18,150