Solution - Compound interest (basic)

23986.55

23986.55

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 14, 144$ , $r = 9 %$ , $n = 2$ , $t = 6$ .

Compute period rate and exponent: $\frac{r}{n} = 0.045$ , $n t = 12$ , so the growth factor is $1.6958814328$ .

Multiply principal by growth factor: $14, 144$ × $1.6958814328$ = $23986.55$ .

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