The amount generated at the end of December 2017 is [tex]\$ 3.04\times 10^{19}[/tex].
The interest generated in a certain time interval on a particular sum is compounded with the principal sum to generate the interest for given time intervals is called the compound interest. The formula for the compound interest is given below.
[tex]A = p(1+\dfrac{r}{n})^{nt}[/tex]
Where A is the final amount, P is the initial principal sum, r is the interest rate, n is the number of times interest applied per time period and t is the number of time periods.
Given that the principal sum is $1,450, the interest rate is 5%, the time period is 15 years, the number of times interest applied per time period is 2(semiannually = twice in a year).
Hence the amount generated at the end of Dec 2017 is,
[tex]A = 1450 \times (1 + \dfrac {5}{2})^{2\times 15}[/tex]
[tex]A = 1450 \times 2.09\times 10^{16}\\ [/tex]
[tex]A = 3.04\times 10^{19}[/tex]
Hence we can conclude that the amount generated at the end of December 2017 is [tex]\$ 3.04\times 10^{19}[/tex].
To know more about the compound interest, follow the link given below.
https://brainly.com/question/25857212.
