Solution - Compound interest (basic)

29576.33

29576.33

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 7, 357$ , $r = 5 %$ , $n = 4$ , $t = 28$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0125$ , $n t = 112$ , so the growth factor is $4.0201621588$ .

Multiply principal by growth factor: $7, 357$ × $4.0201621588$ = $29576.33$ .

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