Find the Value of a $1,000 Certificate in 3 Years

question 44

Short Answer

Find the value of a $1,000 certificate in 3 years, if the interest rate is 14% compounded annually.
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Please round the answer to the nearest cent.
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$ __________

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Definitions:

SWOT Exercise

A strategic planning tool used to identify and analyze the Strengths, Weaknesses, Opportunities, and Threats related to a project, organization, or business.

Strengths

The natural talents and abilities that individuals possess which empower them to perform effectively in certain areas.

Weaknesses

Characteristics or conditions that put an individual or organization at a disadvantage relative to others, potentially hindering success or performance.

Opposition

Refers to resistance or disagreement with a particular idea, policy, or entity.