Solution - Compound interest (basic)

884447.61

884447.61

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 20, 632$ , $r = 14 %$ , $n = 12$ , $t = 27$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0116666667$ , $n t = 324$ , so the growth factor is $42.8677593567$ .

Multiply principal by growth factor: $20, 632$ × $42.8677593567$ = $884447.61$ .

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