Question

If a person deposited $50 a month for 6 years earning 8%, this would involve what type of computation

Answer 1

50*12 =600 put 600$ a year 
600(1.08)^6   the power represents 6 years and 1.08 represents the percentage. (its gain so remember to add the 1 with 0.08.)

You earn $952.12 .