Solution - Compound interest (basic)

10469.56

10469.56

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 4, 576$ , $r = 12 %$ , $n = 4$ , $t = 7$ .

Compute period rate and exponent: $\frac{r}{n} = 0.03$ , $n t = 28$ , so the growth factor is $2.2879276757$ .

Multiply principal by growth factor: $4, 576$ × $2.2879276757$ = $10469.56$ .

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