Principal, P is $52,000 and A is amount
Duration, n is 18 months and
Interest rate is 8.5%.
[tex]A=P(1+\frac{r}{12})^n[/tex][tex]r=\frac{8.5}{100}=0.085[/tex]Substituting the variables into the equation,
[tex]A=52000(1+\frac{0.085}{12})^{18}[/tex]Since it's a monthly compound interest, you solve annually (for 12 months),
[tex]\begin{gathered} A=52000(1+0.007083)^{18} \\ A=52000(1.007083)^{18}^{} \\ A=52000(1.1355) \\ A=59046 \end{gathered}[/tex]Since Amount A is $59,046, hence the correct option is C.
