Solution - Compound interest (basic)

393501.44

393501.44

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 24, 767$ , $r = 10 %$ , $n = 4$ , $t = 28$ .

Compute period rate and exponent: $\frac{r}{n} = 0.025$ , $n t = 112$ , so the growth factor is $15.8881350934$ .

Multiply principal by growth factor: $24, 767$ × $15.8881350934$ = $393501.44$ .

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