Answer:
$5327
Step-by-step explanation:
Use the formula for calculating compound interest
A(t)=P(1+r/n)^n⋅t,
where A(t) is the balance of the account, P is the principal, r is the annual interest rate (as a decimal), n is the number of times the interest is compounded each year, and t is the time (in years). We are given that P=$3,900, r=0.021, n=1, and t=15. Substituting the values into the formula and using a calculator to evaluate, we find
A(t)=P(1+r/n)^n⋅t = $3,900(1+0.0211)^(15)(1) ≈ $5,326.61
So the final answer is $5,327.
