SOLUTION: Jacob bought a computer and owes 3000 to the computer store. They charge 7 percent and compound it quarterly. His payment is due in full in 3 years how much will he owe them in 3 y

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Question 1142102: Jacob bought a computer and owes 3000 to the computer store. They charge 7 percent and compound it quarterly. His payment is due in full in 3 years how much will he owe them in 3 years
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+A+=+P%2A%28+1+%2B+r%2Fn+%29%5E%28n%2At%29+
+A+=+3000%2A%28+1+%2B+.07%2F4+%29%5E%284%2A3%29+
+A+=+3000%2A%28+1+%2B+.0175+%29%5E12+
+A+=+3000%2A1.23144+
+A+=+3694.318+
he will owe them $3,694.32
check the math