1) Considering
Principal = 15,000
i = 10% = 0.1
t= 7 yrs
A =?
2) Let's find out the Future Value, for this operation. Assuming the interest rate is per year.
A =15000(1+0.1x7)
A=15000(1+0.7)
A=15000(1.7)
A=25500
3) So in 7 years the future value of that 15,000 applied to 10% per year will generate $25,500