Solution - Compound interest (basic)

408396.69

408396.69

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 8, 289$ , $r = 14 %$ , $n = 12$ , $t = 28$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0116666667$ , $n t = 336$ , so the growth factor is $49.2697175266$ .

Multiply principal by growth factor: $8, 289$ × $49.2697175266$ = $408396.69$ .

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