Help in solving financical word problem

Algebra
Tutor: None Selected Time limit: 1 Day

Classify the financial problem. Assume a 6% interest rate compounded annually.

Find the value of a $1,000 certificate in 4 years. (round  to the nearest cent.)
Nov 17th, 2014

Future value = $1,000 * (1+0.06)^4

Future value =1,262.5

I hope, it will helpful for you.


Nov 17th, 2014

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