I need to figure out what a deposit of 3500 a month, with 9 percent intrest compounded monthly, would be in 6 years. Any help would be greatly appreciated.

Answer 1

$3500 * (1.0075)^72 = $5,993.93

The balance is increased by a factor
1 + (0.09/12), each month for 72 months.

Answer 2

Determine the number of months required for a deposit of $3500 to earn $262.75 simple interest at 7.35%