Answer:
The accrued value after 5 years is $1,605.95.
The accrued value after 10 years is $1,672.9.
The accrued value after 15 years is $1,739.85.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
![E = P*I*t](https://tex.z-dn.net/?f=E%20%3D%20P%2AI%2At)
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
.
In this problem, we have that:
![P = 1539, I = 0.01](https://tex.z-dn.net/?f=P%20%3D%201539%2C%20I%20%3D%200.01)
Accrued value after 5 years
This T when t = 5. So
![E = P*I*t](https://tex.z-dn.net/?f=E%20%3D%20P%2AI%2At)
![E = 1339*0.01*5 = 66.95](https://tex.z-dn.net/?f=E%20%3D%201339%2A0.01%2A5%20%3D%2066.95)
The total is
![T = E + P = 66.95 + 1539 = 1605.95](https://tex.z-dn.net/?f=T%20%3D%20E%20%2B%20P%20%3D%2066.95%20%2B%201539%20%3D%201605.95)
The accrued value after 5 years is $1,605.95.
Accrued value after 10 years
This T when t = 10. So
![E = P*I*t](https://tex.z-dn.net/?f=E%20%3D%20P%2AI%2At)
![E = 1339*0.01*10 = 133.9](https://tex.z-dn.net/?f=E%20%3D%201339%2A0.01%2A10%20%3D%20133.9)
The total is
![T = E + P = 133.9 + 1539 = 1672.9](https://tex.z-dn.net/?f=T%20%3D%20E%20%2B%20P%20%3D%20133.9%20%2B%201539%20%3D%201672.9)
The accrued value after 10 years is $1,672.9.
Accrued value after 15 years
This T when t = 15. So
![E = P*I*t](https://tex.z-dn.net/?f=E%20%3D%20P%2AI%2At)
![E = 1339*0.01*15 = 200.85](https://tex.z-dn.net/?f=E%20%3D%201339%2A0.01%2A15%20%3D%20200.85)
The total is
![T = E + P = 200.85 + 1539 = 1739.85](https://tex.z-dn.net/?f=T%20%3D%20E%20%2B%20P%20%3D%20200.85%20%2B%201539%20%3D%201739.85)
The accrued value after 15 years is $1,739.85.