Solution - Compound interest (basic)

26441.31

26441.31

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 9, 535$ , $r = 12 %$ , $n = 1$ , $t = 9$ .

Compute period rate and exponent: $\frac{r}{n} = 0.12$ , $n t = 9$ , so the growth factor is $2.7730787575$ .

Multiply principal by growth factor: $9, 535$ × $2.7730787575$ = $26441.31$ .

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