Solution - Compound interest (basic)

90197.36

90197.36

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 21, 600$ , $r = 6 %$ , $n = 4$ , $t = 24$ .

Compute period rate and exponent: $\frac{r}{n} = 0.015$ , $n t = 96$ , so the growth factor is $4.1758035189$ .

Multiply principal by growth factor: $21, 600$ × $4.1758035189$ = $90197.36$ .

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