Solution - Compound interest (basic)

104037.68

104037.68

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 12, 907$ , $r = 15 %$ , $n = 12$ , $t = 14$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0125$ , $n t = 168$ , so the growth factor is $8.0605626337$ .

Multiply principal by growth factor: $12, 907$ × $8.0605626337$ = $104037.68$ .

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