Solution - Compound interest (basic)

14151.70

14151.70

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 11, 492$ , $r = 7 %$ , $n = 4$ , $t = 3$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0175$ , $n t = 12$ , so the growth factor is $1.2314393149$ .

Multiply principal by growth factor: $11, 492$ × $1.2314393149$ = $14151.70$ .

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