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The problem is asking for the calculation of the compound amount for an investment, using the following details:

- Principal: $15,000
- Time Period: 29 years
- Nominal Rate: 6% per year
- Interest Compounded: Annually

### Step 1: Find the New Table Factor
The formula to calculate the compound factor is given by:

\[
\text{Table Factor} = (1 + \frac{r}{n})^{nt}
\]

Where:
- $r$ is the nominal interest rate (6% or 0.06)
- $n$ is the number of times the interest is compounded annually (since it's annually, $n = 1$)
- $t$ is the number of years (29 years)

\[
\text{Table Factor} = (1 + \frac{0.06}{1})^{1 \times 29} = (1.06)^{29}
\]

Calculating $1.06^{29}$:

\[
\text{Table Factor} = 5.41831
\]

### Step 2: Calculate the Compound Amount
Now, use the compound interest formula:

\[
\text{Compound Amount} = \text{Principal} \times \text{Table Factor}
\]

\[
\text{Compound Amount} = 15,000 \times 5.41831 = 81,274.65
\]

### Final Answers:
- **New Table Factor**: 5.41831 (rounded to five decimal places)
- **Compound Amount**: $81,274.65 (rounded to the nearest cent)

Would you like more details or have any questions?

Here are 5 related questions:
1. What is the compound interest formula when the interest is compounded monthly?
2. How would the compound amount change if the interest were compounded quarterly instead of annually?
3. How does increasing the time period affect the compound amount?
4. What is the effective interest rate for a nominal rate of 6% compounded annually?
5. How would the result change if the nominal rate was increased to 7%?

**Tip**: Always ensure the interest compounding frequency matches the number of compounding periods in the formula for accurate results.

Calculate the new table factor and compound amount for a $15,000 investment over 29 years at a nominal rate of 6%, compounded annually.

Learn how to calculate the new table factor and compound amount for a $15,000 investment with 6% nominal interest rate, compounded annually, over a 29-year period. The final compound amount is $81,274.65.

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