I know this is a really basic question for this website, but I can't find it anywhere else.

This is the question: "If you deposit $3,750 in an account that pays 6% annual interest compounded monthly, what is the balance of the account after 11 years?"

The formula I'm using is $y=a(1+r{)}^{t}$, with a being the initial amount, r being the rate in decimal form, and t is time relative to the rate, which makes $y=3,750(1+.06{)}^{132}$

How do I solve for the ending amount (y)?