This is the compound interest formula:
FV = PV x [1 + R]^N, whrere FV=Future value, PV=Present value, R=Periodic interest rate, N=Number of periods.
In your case, you didn't give the "Number of periods"!!. Number of periods could be: days, weeks, months, or years. Example: if you wanted your money to grow for 10 years, then your numbers would look like this: FV = 12,800 x [1 + 0.015]^10=12,800 x 1.015^10 =12,800 x 1.1605408250.....
FV = $14,854.92.
