Answer:
3. $21,074.
Explanation:
The computation of the value now is shown below:
As we know that
Future value = Present value × (1 + rate of interest)^number of years
= $15000 × (1 + 0.12)^3
= $15,000 × 1.40493
= $21,073.95
= $21,074
Hence, the value now is $21,074
Therefore the correct option is 3.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
