Solution - Compound interest (basic)

80683.20

80683.20

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 22, 390$ , $r = 12 %$ , $n = 2$ , $t = 11$ .

Compute period rate and exponent: $\frac{r}{n} = 0.06$ , $n t = 22$ , so the growth factor is $3.6035374166$ .

Multiply principal by growth factor: $22, 390$ × $3.6035374166$ = $80683.20$ .

Was this explanation helpful?

How did we do?

Learn more with Tiger

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