Final answer:
The value of the savings bond at maturity is $6,078.47.
Step-by-step explanation:
To calculate the value of the savings bond at maturity, we can use the formula for compound interest:
A = P(1+r/n)^(nt)
Where:
- A is the final amount
- P is the principal amount (original investment)
- r is the annual interest rate (as a decimal)
- n is the number of times that interest is compounded per year
- t is the number of years
In this case, P = $6,000, r = 1.3% (or 0.013 as a decimal), n = 12 (compounded monthly), and t = 1.5 years. Plugging these values into the formula:
A = 6000(1+0.013/12)^(12*1.5) = $6,078.47
Therefore, the correct answer is a) CA $6,078.47.