Find the amount Erica owes at the end of 3 years if $6000 is loaned to her at a rate of 7% compounded monthly. Use A=P (1+r/n)^nt
I am confused about how I plug in these numbers. When I submit the answer its wrong but it also gives me a hint
"Remember that the exponential function defined by A=P(1+r/n)^nt models the dollars A owed after P dollars are loaned at an annual rate of interest r compounded n times each year for t years. this function is known as the compound interest formula substitute the values into this formula and solve.