Solution - Compound interest (basic)

101120.81

101120.81

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 13, 058$ , $r = 13 %$ , $n = 4$ , $t = 16$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0325$ , $n t = 64$ , so the growth factor is $7.7439735513$ .

Multiply principal by growth factor: $13, 058$ × $7.7439735513$ = $101120.81$ .

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