Solution - Compound interest (basic)

38495.81

38495.81

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 10, 548$ , $r = 10 %$ , $n = 12$ , $t = 13$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0083333333$ , $n t = 156$ , so the growth factor is $3.6495841847$ .

Multiply principal by growth factor: $10, 548$ × $3.6495841847$ = $38495.81$ .

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