Summary: Algorithmic issues concerning Elliott local semigroups are seldom considered in the literature, although these combinatorial structures completely classify AF algebras. In general, the addition operation of an Elliott local semigroup is partial, but for every AF algebra \(\mathfrak{B}\) whose Murray-von Neumann order of projections is a lattice, this operation is uniquely extendible to the addition of an involutive monoid \(E(\mathfrak{B})\). Let \(\mathfrak{M}_1\) be the Farey AF algebra introduced by the present author in 1988 [D. Mundici, Adv. Math. 68, No. 1, 23–39 (1988; Zbl 0678.06008)] and rediscovered by F. Boca in 2008 [F. P. Boca, Can. J. Math. 60, No. 5, 975–1000 (2008; Zbl 1158.46039)]. The freeness properties of the involutive monoid \(E(\mathfrak{M}_1)\) yield a natural word problem for every AF algebra \(\mathfrak{B}\) with singly generated \(E(\mathfrak{B})\), because \(\mathfrak{B}\) is automatically a quotient of \(\mathfrak{M}_1\). Given two formulas \(\phi\) and \(\psi\) in the language of involutive monoids, the problem asks to decide whether \(\phi\) and \(\psi\) code the same equivalence of projections of \(\mathfrak{B}\). This mimics the classical definition of the word problem of a group presented by generators and relations. We show that the word problem of \(\mathfrak{M}_1\) is solvable in polynomial time, and so is the word problem of the Behncke-Leptin algebras \(\mathcal{A}_{n, k}\), and of the Effros-Shen algebras \(\mathfrak{F}_\theta\), for \(\theta \in [0, 1] \setminus \mathbb{Q}\) a real algebraic number, or \(\theta = 1 / e\). We construct a quotient of \(\mathfrak{M}_1\) having a Gödel incomplete word problem, and show that no primitive quotient of \(\mathfrak{M}_1\) is Gödel incomplete.