How to find the final value using the compound interest formula

The video tutorial explains how to calculate the future balance of an investment using the compound interest formula. It starts by identifying the given variables: initial investment, interest rate, compounding frequency, and time period. The instructor then demonstrates how to apply the compound interest formula step-by-step, emphasizing the importance of following the order of operations to avoid errors. The final calculation reveals the future balance of the investment after 15 years, providing a clear understanding of the process.

What formula is used to calculate the final amount in the investment account?

What is the final amount after 15 years of investment?