Solution - Compound interest (basic)

263448.03

263448.03

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 14, 671$ , $r = 10 %$ , $n = 12$ , $t = 29$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0083333333$ , $n t = 348$ , so the growth factor is $17.9570604874$ .

Multiply principal by growth factor: $14, 671$ × $17.9570604874$ = $263448.03$ .

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