Solution - Compound interest (basic)

476524.50

476524.50

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 9, 518$ , $r = 15 %$ , $n = 1$ , $t = 28$ .

Compute period rate and exponent: $\frac{r}{n} = 0.15$ , $n t = 28$ , so the growth factor is $50.0656120656$ .

Multiply principal by growth factor: $9, 518$ × $50.0656120656$ = $476524.50$ .

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