Mathematics, 05.07.2021 19:40, grumpygirl0720
If $3000 is invested at 3% interest, find the value of the investment at the end of 7 years if the interest is compounded as follows. (Round your answers to the nearest cent.)
(i) annually
(ii) semiannually
(iii) monthly
(iv) weekly
(v) daily
(vi) continuously
Answers: 3
![A=3000[1+\frac{0.03}{1} ]^1^(^7^)\\ =3000(1.03)^7\\ =3689.621596\\](/tpl/images/1389/3588/21352.png)
![A=3000[1+\frac{0.03}{2}^{2(4)} ]\\ =3000[1+0.815]^14\\ =3695.267192](/tpl/images/1389/3588/32ae4.png)
![A=3000[1+\frac{0.03}{12}^{12(7)} \\ =3000[1+0.0025]^84\\ =3700.0644](/tpl/images/1389/3588/3b0d9.png)
![A=3000[1+\frac{0.03}{52}]^3^6 \\ =3000(1.23360336)\\ =3700.81003](/tpl/images/1389/3588/65c59.png)
![A=3000[1+\frac{0.03}{365}]^{365(7)} \\ =3000[1.000082192]^{2555}\\ =3701.002234](/tpl/images/1389/3588/a42f0.png)
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