Solution - Compound interest (basic)

30105.94

30105.94

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 19, 853$ , $r = 7 %$ , $n = 4$ , $t = 6$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0175$ , $n t = 24$ , so the growth factor is $1.5164427864$ .

Multiply principal by growth factor: $19, 853$ × $1.5164427864$ = $30105.94$ .

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