Solution - Compound interest (basic)

99843.45

99843.45

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 23, 769$ , $r = 8 %$ , $n = 12$ , $t = 18$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0066666667$ , $n t = 216$ , so the growth factor is $4.2005741874$ .

Multiply principal by growth factor: $23, 769$ × $4.2005741874$ = $99843.45$ .

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