please use equation. No excel. thank you.

8. Suppose that you invest $1000 in a savings account today paying interest of 6% per year ( 0.5% per month). You expect to save $600 per year, which will be invested at a rate of $50 at the end of each month for 72 months (the first $50 investment occurring one month from now). How much money will you have in the account after 6 years? Compare the answer here with the answer for problem 7 above. Explain the different in results from the two savings programs