The formula for compounding interest in n periods is:
[tex]\begin{gathered} A=p\cdot(1+\frac{r}{n})^{n\cdot t} \\ A=\text{future value} \\ p=\text{principal} \\ r=\text{interest rate } \\ n=\text{compounds per year} \\ t=\text{time in years} \end{gathered}[/tex]
Then using the information given we obtain that
[tex]\begin{gathered} A=600\cdot(1+\frac{0.6}{12})^{12\cdot!} \\ \hat{A}\approx1077.51 \end{gathered}[/tex]
