Solution - Compound interest (basic)

400625.05

400625.05

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 8, 500$ , $r = 14 %$ , $n = 4$ , $t = 28$ .

Compute period rate and exponent: $\frac{r}{n} = 0.035$ , $n t = 112$ , so the growth factor is $47.1323589818$ .

Multiply principal by growth factor: $8, 500$ × $47.1323589818$ = $400625.05$ .

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