Solution - Compound interest (basic)

107531.14

107531.14

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 11, 597$ , $r = 14 %$ , $n = 12$ , $t = 16$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0116666667$ , $n t = 192$ , so the growth factor is $9.2723243021$ .

Multiply principal by growth factor: $11, 597$ × $9.2723243021$ = $107531.14$ .

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