Answer:
$25342.18
Step-by-step explanation:
Suppose my friend's parents invest $15000 in an account paying 6% compound interest which is compounded annually.
So, we have to calculate the balance that will become after 9 years i.e. the maturity amount after 9 years.
Now, using the formula of compound interest we get the sum as
[tex]S = 15000(1 + \frac{6}{100})^{9} = 25342.18[/tex] dollars (Approximate)
(Answer)
