I'm having trouble trying to figure this problem out, I know the variables of the problem but I don't seem to get the right answer here is the formula that i'm using: A = P (1 + r/n)^n * t. Here is the problem:

Question

I'm having trouble trying to figure this problem out, I know the variables of the problem but I don't seem to get the right answer here is the formula that i'm using: A = P (1 + r/n)^n * t. Here is the problem:

If Joe deposits $12,000 into an account that yields 3% annual interest, how much will be in the account after 5 years if interest is compounded: quarterly.

I get around 13,000 but the answer is for 14,000, can anyone tell me what I'm doing wrong?

12000*(1+.03/4)²⁰= about 14000