Solution - Compound interest (basic)

26493.90

26493.90

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 9, 977$ , $r = 11 %$ , $n = 4$ , $t = 9$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0275$ , $n t = 36$ , so the growth factor is $2.6554975174$ .

Multiply principal by growth factor: $9, 977$ × $2.6554975174$ = $26493.90$ .

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