Solution - Compound interest (basic)

274094.72

274094.72

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 8, 309$ , $r = 12 %$ , $n = 2$ , $t = 30$ .

Compute period rate and exponent: $\frac{r}{n} = 0.06$ , $n t = 60$ , so the growth factor is $32.9876908533$ .

Multiply principal by growth factor: $8, 309$ × $32.9876908533$ = $274094.72$ .

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