Solution - Compound interest (basic)

19715.16

19715.16

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 17, 294$ , $r = 14 %$ , $n = 1$ , $t = 1$ .

Compute period rate and exponent: $\frac{r}{n} = 0.14$ , $n t = 1$ , so the growth factor is $1.14$ .

Multiply principal by growth factor: $17, 294$ × $1.14$ = $19715.16$ .

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