Remember 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 the Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
P=$12,000
r=4.5%=0.045
n=12
substitute
[tex]A=12,000(1+\frac{0.045}{12})^{12t}[/tex]
The answer is option 4
