Solution - Compound interest (basic)

24436.34

24436.34

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 11, 331$ , $r = 3 %$ , $n = 1$ , $t = 26$ .

Compute period rate and exponent: $\frac{r}{n} = 0.03$ , $n t = 26$ , so the growth factor is $2.1565912675$ .

Multiply principal by growth factor: $11, 331$ × $2.1565912675$ = $24436.34$ .

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