Answer:
1571862.11penny
Step-by-step explanation:
The formula for calculating the compound interest is expressed as;
A = P(1+r/n) ^nt
Given
Principal P = $5000
r is the rate = 8.25% = 0.0825
t is the time = 15 years
n is the time of compounding = 6/12 = 1/2
Substitute
A = 5000(1+0.0825/0.5)^0.5(15)
A = 5000(1+0.165)^7.5
A = 5000(1.165)^7.5
A = 5000(3.1437)
A = 15,718.6
hence the amount of money in the account after 15years is $15,718.6211 which is 1571862.11penny
