Solution - Compound interest (basic)

24927.24

24927.24

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 14, 896$ , $r = 4 %$ , $n = 2$ , $t = 13$ .

Compute period rate and exponent: $\frac{r}{n} = 0.02$ , $n t = 26$ , so the growth factor is $1.6734181144$ .

Multiply principal by growth factor: $14, 896$ × $1.6734181144$ = $24927.24$ .

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