Solution - Compound interest (basic)

224992.78

224992.78

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 12, 419$ , $r = 13 %$ , $n = 2$ , $t = 23$ .

Compute period rate and exponent: $\frac{r}{n} = 0.065$ , $n t = 46$ , so the growth factor is $18.116819509$ .

Multiply principal by growth factor: $12, 419$ × $18.116819509$ = $224992.78$ .

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