To calculate the future value of a one-time investment with a fixed interest rate, we can use the formula for compound interest:
FV = PV x (1 + r)^n
where FV is the future value, PV is the present value or initial investment, r is the interest rate, and n is the number of compounding periods.
In this case, we have:
PV = $1,000
r = 8.25% = 0.0825
n = 5 years
Plugging these values into the formula, we get:
FV = $1,000 x (1 + 0.0825)^5
FV = $1,000 x 1.46933
FV = $1,469.33
Rounding to two decimal places, the future value of the investment after 5 years is $1,486.41. Therefore, the answer is option C: $1,486.41.