Answer:
Option A. [tex]\$4,659.98[/tex]
Step-by-step explanation:
The options are
A. $4659.98
B. $12,325,434.98
C. 1653.18
D. 4817.75
we know that
The compound interest formula is equal to
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
[tex]t=18\ years\\ P=\$1,500\\ r=6.5\%=6.5/100=0.065\\n=1[/tex]
substitute in the formula above
[tex]A=1,500(1+\frac{0.065}{1})^{1*18}[/tex]
[tex]A=1,500(1.065)^{18}[/tex]
[tex]A=\$4,659.98[/tex]
