Answer:
$20070
Step-by-step explanation:
Given data
Time= 5 years
Principal= $15,000
Rate= 6%
Total amount= P (1 + i)^t
substitute
Total amount= 15000(1 + 0.06)^5
Total amount= 15000 (1.06)^5
Total amount= 15000*1.338
Total amount= $20070
Hence the total amount will be $20070
