Final answer:
The total repayment amount for the borrower is $24,556.76.
Step-by-step explanation:
To calculate the total repayment amount for the borrower, we need to use the compound interest formula. The formula is:
A = P(1 + r/n)^(nt)
Where A is the total amount, P is the principal (loan amount), r is the interest rate, n is the number of times the interest is compounded per year, and t is the number of years.
In this case, the principal (loan amount) is $15,000, the interest rate is 10.25%, compounded annually, the number of times compounded per year is 1, and the number of years is 6. Plugging these values into the formula:
A = 15000(1 + 0.1025/1)^(1*6)
A = $24,556.76
Therefore, the total repayment amount for the borrower is $24,556.76.