Solution - Compound interest (basic)

460128.48

460128.48

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 22, 066$ , $r = 15 %$ , $n = 2$ , $t = 21$ .

Compute period rate and exponent: $\frac{r}{n} = 0.075$ , $n t = 42$ , so the growth factor is $20.8523736595$ .

Multiply principal by growth factor: $22, 066$ × $20.8523736595$ = $460128.48$ .

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