Part b.
In this case, the money is compounded quarterly, this means that n=4 (4 times per year). So, by substrituting the given values into the compound interes formula, wer have
[tex]A=15000(1+\frac{0.045}{4})^{4\times5}[/tex]
which gives:
[tex]A=18761.26[/tex]
