Final answer:
The future value of $6,000 invested at 7% compound interest annually for three years is approximately $7,501.57.
Step-by-step explanation:
To calculate the future value of $6,000 invested at 7% compounded annually for three years, we can use the formula for compound interest:
Future Value = Present Value × (1 + Interest Rate)^Number of Periods
Plugging in the given values, we have:
Future Value = $6,000 × (1 + 0.07)^3
Calculating this, we get:
Future Value = $6,000 × (1.07)^3 ≈ $7,501.57