Solution - Compound interest (basic)

51850.58

51850.58

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 16, 395$ , $r = 13 %$ , $n = 4$ , $t = 9$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0325$ , $n t = 36$ , so the growth factor is $3.1625847456$ .

Multiply principal by growth factor: $16, 395$ × $3.1625847456$ = $51850.58$ .

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