Final answer:
The value of the woman's investment after nine years with annual contributions of $1500 at 6% interest, using the future value of an annuity formula, closely matches option B. $20,800.
Step-by-step explanation:
The value of the woman's investment after nine years, with an annual contribution of $1500 at 6% interest, is calculated using the future value of an annuity formula. Assuming contributions are made at the start of each year (annuity-due), the formula is P × rac{((1 + r)^n - 1)}{r} × (1 + r), where P is the annual payment, r is the interest rate per period, and n is the number of periods.
Plugging in the values, we get $1500 × rac{((1 + 0.06)^9 - 1)}{0.06} × (1 + 0.06). Calculating this we find the investment's value is $15,700.54 at the end of nine years, therefore the closest answer is B. $20,800.