Solution - Compound interest (basic)

37934.33

37934.33

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 22, 619$ , $r = 9 %$ , $n = 1$ , $t = 6$ .

Compute period rate and exponent: $\frac{r}{n} = 0.09$ , $n t = 6$ , so the growth factor is $1.6771001108$ .

Multiply principal by growth factor: $22, 619$ × $1.6771001108$ = $37934.33$ .

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