Answer
$FV-PV=\$ 268.99$
Work Step by Step
The future value of an investment of $\\\\$
PV=1,000 dollars earning interest $\\$
at an annual rate of r=$6\%=0.06\\$
compounded (reinvested) m$=4$ times per year$\\$
for a period of t$=4$ years is$\\$
$FV=PV(1+\displaystyle \frac{r}{m})^{mt}\\$
$=1,000(1+\displaystyle \frac{0.06}{4})^{4\cdot 4}\approx$1268.98554765$\\$
rounded to the nearest cent: $FV=\$ 1,268.99\\$
The account will have grown by$\\$
$FV-PV=\$ 268.99$
