A = P(1 + r/n)nt
Where:
- A = the final amount
- P = the initial amount or principle = $11,000
- r = interest rate as a decimal = 3% = 0.03
- n = number of annual compoundings = monthly = 12
- t = years = 6
A = ($11,000)(1 + (0.03/12))12*6
Can you finish it from here?
