Solution - Compound interest (basic)

102987.01

102987.01

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 4, 675$ , $r = 15 %$ , $n = 4$ , $t = 21$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0375$ , $n t = 84$ , so the growth factor is $22.0293078612$ .

Multiply principal by growth factor: $4, 675$ × $22.0293078612$ = $102987.01$ .

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