Solution - Compound interest (basic)

16339.75

16339.75

Step-by-step explanation

Use $A = P {(1 + r / n)}^{[PARSE ERROR: Undefined("EOF")]}$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0025$ , $n t = 348$ , so the growth factor is $2.3843208124$ .

Multiply principal by growth factor: $6, 853$ × $2.3843208124$ = $16339.75$ .

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