Solution - Compound interest (basic)

741428.50

741428.50

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 12, 918$ , $r = 15 %$ , $n = 2$ , $t = 28$ .

Compute period rate and exponent: $\frac{r}{n} = 0.075$ , $n t = 56$ , so the growth factor is $57.3949917892$ .

Multiply principal by growth factor: $12, 918$ × $57.3949917892$ = $741428.50$ .

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