Solution - Compound interest (basic)

738598.15

738598.15

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 21, 337$ , $r = 13 %$ , $n = 1$ , $t = 29$ .

Compute period rate and exponent: $\frac{r}{n} = 0.13$ , $n t = 29$ , so the growth factor is $34.6158389003$ .

Multiply principal by growth factor: $21, 337$ × $34.6158389003$ = $738598.15$ .

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