Solution - Compound interest (basic)

16695.27

16695.27

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 4, 996$ , $r = 9 %$ , $n = 1$ , $t = 14$ .

Compute period rate and exponent: $\frac{r}{n} = 0.09$ , $n t = 14$ , so the growth factor is $3.3417270272$ .

Multiply principal by growth factor: $4, 996$ × $3.3417270272$ = $16695.27$ .

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