Solution - Compound interest (basic)

10395.66

10395.66

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 3, 291$ , $r = 7 %$ , $n = 1$ , $t = 17$ .

Compute period rate and exponent: $\frac{r}{n} = 0.07$ , $n t = 17$ , so the growth factor is $3.158815211$ .

Multiply principal by growth factor: $3, 291$ × $3.158815211$ = $10395.66$ .

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