Solution - Compound interest (basic)

25255.22

25255.22

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 3, 598$ , $r = 14 %$ , $n = 12$ , $t = 14$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0116666667$ , $n t = 168$ , so the growth factor is $7.0192390988$ .

Multiply principal by growth factor: $3, 598$ × $7.0192390988$ = $25255.22$ .

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