can someone help me with this question, I've done it over three times and I can't seem to get the right answer.

The answer is $5,635.74
and the question is:
Use the formula for the future value of an ordinary annuity to calculate A with the monthly payment R=$300, the annual interest rate r=6.0%, and the time t=18 months.

Question

can someone help me with this question, I've done it over three times and I can't seem to get the right answer.

The answer is $5,635.74
and the question is:
Use the formula for the future value of an ordinary annuity to calculate A with the monthly payment R=$300, the annual interest rate r=6.0%, and the time t=18 months.

phi · Answer

you should use the same formula you use to find the payment for a loan:
$$ F.V. = p*\frac{(1+i)^n-1}{i} $$
where p is the payment, and F. V. is the future value