Answer
$5,229.70
Work Step by Step
The formula is:A=P(1+$\frac{r}{n}$$)^{nt}$
P=5000 which is the start amount
R=0.015 which is the rate(1.5%) in decimal
N=4 because it is the number of times compounded per year.
T=3 which is the time.
Substitute:
A=5,000(1+$\frac{0.015}{4}$$)^{4(3)}$
A=5000(1.05)
A=5229.70
There would be about $5229.70 after 3 years.
