Solution - Compound interest (basic)

10782.84

10782.84

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 2, 698$ , $r = 13 %$ , $n = 2$ , $t = 11$ .

Compute period rate and exponent: $\frac{r}{n} = 0.065$ , $n t = 22$ , so the growth factor is $3.9966063222$ .

Multiply principal by growth factor: $2, 698$ × $3.9966063222$ = $10782.84$ .

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