Solution - Compound interest (basic)

58746.06

58746.06

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 7, 382$ , $r = 10 %$ , $n = 4$ , $t = 21$ .

Compute period rate and exponent: $\frac{r}{n} = 0.025$ , $n t = 84$ , so the growth factor is $7.9580138914$ .

Multiply principal by growth factor: $7, 382$ × $7.9580138914$ = $58746.06$ .

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