SOLUTION: If I put 6000$ in the bank every month at 7% compound interest what will be the total in 35 months

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Question 572661: If I put 6000$ in the bank every month at 7% compound interest what will be the total in 35 months
Answer by lwsshak3(11628) About Me  (Show Source):
You can put this solution on YOUR website!
If I put 6000$ in the bank every month at 7% compound interest what will be the total in 35 months
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Formula for future worth:
F=A[(1+i)^N-1]/i, A=amt invested per period, N=number of periods, i=interest rate per period, F=amt after N periods.
..
F=6000[1+.07/12)^35-1]/.07/12
using calculator
F=$232,225.95
ans:
The total will be $232,225.95