Answer:
$16,800
Step-by-step explanation:
The amount that would be in the account = amount deposited + interest earned on deposit
interest earned on deposit can be determined by determining the simple interest
Simple interest = principal x time x interest rate
principal = the amount deposited = $15,000
Time = the duration of the deposit = 4 years
interest rate = the percentage on deposit that would be earned = 3%
15,000 x 0.03 x 4 = $1,800
The amount that would be in the account = $15,000 + $1800 = $16,800
