Solution - Compound interest (basic)

64038.75

64038.75

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 15, 099$ , $r = 7 %$ , $n = 2$ , $t = 21$ .

Compute period rate and exponent: $\frac{r}{n} = 0.035$ , $n t = 42$ , so the growth factor is $4.2412579948$ .

Multiply principal by growth factor: $15, 099$ × $4.2412579948$ = $64038.75$ .

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