To find the velocity of a satellite 3600 km above Earth, the correct formula is v = square root of (g)(Mearth/R), where R is the total radius from the center of the Earth, including Earth's radius plus the altitude. The initial attempt using V = 2πR/T was incorrect because it did not account for the proper radius. For calculating the force between the Earth and the satellite, both centripetal force and gravitational force equations can be used, as they are equivalent in this context. Clarification was provided that the radius, not just the altitude, must be used in these calculations. Understanding these relationships is crucial for solving problems related to satellite motion.