1. Assume that you purchase a 6-year,
1. Assume that you purchase a 6-year, 8 percent savings certificate for $1,000. If interest is compounded annually, what will be the value of the certificate when it matures? a. $630.17 b. $1,469.33 c. $1,677.10 d. $1,586.87 e. $1,766.33 2.…