Solution - Compound interest (basic)

227042.37

227042.37

Step-by-step explanation

Use $A = P {(1 + r / n)}^{[PARSE ERROR: Undefined("EOF")]}$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0075$ , $n t = 360$ , so the growth factor is $14.730576123$ .

Multiply principal by growth factor: $15, 413$ × $14.730576123$ = $227042.37$ .

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