Solution - Compound interest (basic)

120180.28

120180.28

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 9, 932$ , $r = 12 %$ , $n = 1$ , $t = 22$ .

Compute period rate and exponent: $\frac{r}{n} = 0.12$ , $n t = 22$ , so the growth factor is $12.1003100562$ .

Multiply principal by growth factor: $9, 932$ × $12.1003100562$ = $120180.28$ .

Was this explanation helpful?

How did we do?

Learn more with Tiger

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