250*[(1+0.11/12)^(12*6/12)-1]/0.11/12. This bit of your expression:(12*6/12) is wrong. You don't divide by 12 but just leave it like this:12*6=72. So, your formula would like this:
250*[(1 + .11/12)^(6*12) - 1] / [.11/12] =
250*[ 1.928984 - 1] / [ 0.009167] =
250*101.34369 =$25,335.92 This is the FV of $250 deposits per month @11% comp. monthly for 6 years or 72 months.
