Solution - Compound interest (basic)

14327.99

14327.99

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 5, 941$ , $r = 9 %$ , $n = 2$ , $t = 10$ .

Compute period rate and exponent: $\frac{r}{n} = 0.045$ , $n t = 20$ , so the growth factor is $2.4117140248$ .

Multiply principal by growth factor: $5, 941$ × $2.4117140248$ = $14327.99$ .

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