Solution - Compound interest (basic)

10636.34

10636.34

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 9, 442$ , $r = 6 %$ , $n = 4$ , $t = 2$ .

Compute period rate and exponent: $\frac{r}{n} = 0.015$ , $n t = 8$ , so the growth factor is $1.1264925866$ .

Multiply principal by growth factor: $9, 442$ × $1.1264925866$ = $10636.34$ .

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