Solution - Compound interest (basic)

56567.94

56567.94

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 12, 479$ , $r = 13 %$ , $n = 2$ , $t = 12$ .

Compute period rate and exponent: $\frac{r}{n} = 0.065$ , $n t = 24$ , so the growth factor is $4.5330508058$ .

Multiply principal by growth factor: $12, 479$ × $4.5330508058$ = $56567.94$ .

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