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? a)$18,375.65 b)$19,661.94 c)$20,407.33

we know that

The compound interest formula is equal to

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest  in decimal

t is Number of Time Periods

n is the number of times interest is compounded per year

in this problem we have

substitute in the formula above

therefore

the answer is

step-by-step explanation: