Part 1
The formula of the future value of annuity ordinary is
Fv=pmt [(1+r/k)^(kn)-1)÷(r/k)]
Fv future value?
PMT monthly payment 1011
r interest rate 0.057
K compounded monthly 12
N time 6years
Fv=1,011×(((1+0.057÷12)^(12
×6)−1)÷(0.057÷12))
=86,546.05
Part 2
First find how many months in 6years
12×6=72 months
Interest=Fv-pmt×number of months
Interest=86,546.05−1,011×72
Interest=13,754.05