Solution - Compound interest (basic)

30728.23

30728.23

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 19, 136$ , $r = 7 %$ , $n = 1$ , $t = 7$ .

Compute period rate and exponent: $\frac{r}{n} = 0.07$ , $n t = 7$ , so the growth factor is $1.6057814765$ .

Multiply principal by growth factor: $19, 136$ × $1.6057814765$ = $30728.23$ .

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