Answer
$\$ 14,457.83$
Work Step by Step
The future value of an investment of
$PV=?$ dollars
at an annual simple interest rate of
$r =3\displaystyle \%=\frac{3}{100}=0.03$
for a period of
$t =$ ($15$ months)$\displaystyle \cdot\frac{1\ year}{12\ months}=\frac{15}{12}$ years
$=1.25$ years
is
$ FV=PV(1+rt)\quad$,which we solve for $PV$
... divide with $(1+rt)$
$ PV=\displaystyle \frac{FV}{1+rt}=\frac{15000}{1+0.03\cdot 1.25}\approx$14457.8313253