Solution - Compound interest (basic)

259497.86

259497.86

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 15, 278$ , $r = 15 %$ , $n = 12$ , $t = 19$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0125$ , $n t = 228$ , so the growth factor is $16.9850672278$ .

Multiply principal by growth factor: $15, 278$ × $16.9850672278$ = $259497.86$ .

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