the cheap answer is, well, is compounding every year, thus use the compound interest equation
[tex]\bf \qquad \textit{Compounded Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\qquad
\begin{cases}
A=\textit{current amount}\\
P=\textit{original amount }\to &\$1500\\
r=rate\to 2\%\to \frac{2}{100}\to &0.02\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{each year, so once}
\end{array}\to &1\\
t=years\to &4
\end{cases}[/tex]
