Solution - Compound interest (basic)

36963.26

36963.26

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 15, 359$ , $r = 10 %$ , $n = 2$ , $t = 9$ .

Compute period rate and exponent: $\frac{r}{n} = 0.05$ , $n t = 18$ , so the growth factor is $2.4066192337$ .

Multiply principal by growth factor: $15, 359$ × $2.4066192337$ = $36963.26$ .

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.