In this case:
P = 15000
r = 1.2% = 0.012 in decimal
t = 5 years
n = 1 (compound once per year)
[tex]A\text{ = 15000(1 + }\frac{0.012}{1})^{1(5)}=15000(1.012)^5=15000(1.061457384)\text{ = }15921.86[/tex]
Answer: (rounded to the nearest whole dollar) = $15,922
