Answer
${{\$}} 3017.04$
Work Step by Step
The amount A after t years due to a principal P
invested at an annual interest rate r, expressed as a decimal,
compounded n times per year is $A=P\displaystyle \cdot\left(1+\frac{r}{n}\right)^{nt}$
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$t= 5$ years,
$r=0.15,$
$n=1$ (annually),$\quad nt=5$
$A=15\cdot 100=1500$
$A=1500(1+0.15)^{5}=1500(1.15)^{5}\approx{{\$}} 3017.04$
