Solution - Compound interest (basic)

37966.49

37966.49

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 10, 341$ , $r = 6 %$ , $n = 2$ , $t = 22$ .

Compute period rate and exponent: $\frac{r}{n} = 0.03$ , $n t = 44$ , so the growth factor is $3.6714522734$ .

Multiply principal by growth factor: $10, 341$ × $3.6714522734$ = $37966.49$ .

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Compound interest appears in savings, loans, and investments. Understanding it builds strong financial literacy.