Question 1053994
formula for compound interest:

A = P(1 + r/n)^(nt)

Where:
A = the final amount
P = principal
r = the annual interest rate (as a decimal)
n = the number of periods the interest is compounded per year
t = the time in years


P = $400
r = 6% = 0.06 (annual rate)
n = 12 (monthly compounding)
t = 6 (years)

A = 400(1 + 0.06/12)^(12*6)
A = 400(1.005)^72
A = $31,159.12

 Jackson will have $31,159.12 at the end of 6 years.