Solution - Compound interest (basic)

97818.98

97818.98

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 24, 953$ , $r = 10 %$ , $n = 2$ , $t = 14$ .

Compute period rate and exponent: $\frac{r}{n} = 0.05$ , $n t = 28$ , so the growth factor is $3.9201291385$ .

Multiply principal by growth factor: $24, 953$ × $3.9201291385$ = $97818.98$ .

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