Solution - Compound interest (basic)

343779.78

343779.78

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 14, 037$ , $r = 13 %$ , $n = 4$ , $t = 25$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0325$ , $n t = 100$ , so the growth factor is $24.4909726235$ .

Multiply principal by growth factor: $14, 037$ × $24.4909726235$ = $343779.78$ .

Was this explanation helpful?

How did we do?

Learn more with Tiger

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