Solution - Compound interest (basic)

35257.06

35257.06

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 22, 703$ , $r = 9 %$ , $n = 2$ , $t = 5$ .

Compute period rate and exponent: $\frac{r}{n} = 0.045$ , $n t = 10$ , so the growth factor is $1.5529694217$ .

Multiply principal by growth factor: $22, 703$ × $1.5529694217$ = $35257.06$ .

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