Solution - Compound interest (basic)

19400.62

19400.62

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 17, 576$ , $r = 10 %$ , $n = 4$ , $t = 1$ .

Compute period rate and exponent: $\frac{r}{n} = 0.025$ , $n t = 4$ , so the growth factor is $1.1038128906$ .

Multiply principal by growth factor: $17, 576$ × $1.1038128906$ = $19400.62$ .

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