Solution - Compound interest (basic)

99371.37

99371.37

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 14, 157$ , $r = 14 %$ , $n = 12$ , $t = 14$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0116666667$ , $n t = 168$ , so the growth factor is $7.0192390988$ .

Multiply principal by growth factor: $14, 157$ × $7.0192390988$ = $99371.37$ .

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.