Solution - Compound interest (basic)

26735.06

26735.06

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 19, 828$ , $r = 3 %$ , $n = 4$ , $t = 10$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0075$ , $n t = 40$ , so the growth factor is $1.3483486123$ .

Multiply principal by growth factor: $19, 828$ × $1.3483486123$ = $26735.06$ .

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