Exponential Function Compound Interest (Discrete) - Equation and Scenario to Specific Value

Question

What is the final cash in this equation for a quarterly compounding growth of money in a savings account?

$$3,947 =3000\cdot (1+0.04)^{(7)}$$

Accepted Answer

$$P = 3,947$$

Answer

$$P = 4,980$$

Answer

$$P = 4,080$$

Answer

$$P = 3,240$$