Correct Answer: Extravagance

Solution : The second option is correct.

The most appropriate antonym of the word "frugality" is "extravagance".

The meanings of every option are as follows:

Parsimony: It is a synonym of frugality, so it's not an antonym.

Extravagance: This is the correct antonym for frugality. Extravagance means excessive or wasteful spending, which is the opposite of frugality.

Providence: It is not a direct antonym of frugality. It refers to divine guidance or forethought in the management of one's affairs, which may or may not be related to frugality.

Economy: It is related to frugality but not its direct opposite. Economy refers to the efficient and prudent management of resources, including saving money.