Answer:
$111.15
Step-by-step explanation:
Using the formula for calculating compound interest
A = P(1+r/n)^nt
A = 110(1+0.007/(1/24))^15(1/24)
A = 110(1+0.0168)^0.625
A = 110(1.0168)^0.625
A = 110(1.010)
A = 111.15
Hence the balance after 15 years is $111.15
