Solution - Compound interest (basic)

206094.70

206094.70

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 22, 635$ , $r = 15 %$ , $n = 4$ , $t = 15$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0375$ , $n t = 60$ , so the growth factor is $9.1051336094$ .

Multiply principal by growth factor: $22, 635$ × $9.1051336094$ = $206094.70$ .

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