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

annualy=$3689.62

semiannually=$3695.27

monthly=$3700.06

weekly=$3700.81

daily=$3701.00

Continuously=$3701.03

Step-by-step explanation:

Given:

P=3000

r=3%

t=7 years

Formula used:

Where,

A represents Accumulated amount

P represents (or) invested amount

r represents interest rate

t represents time in years

n represents accumulated or compounded number of times per year

Solution:

(i)annually

n=1 time per year

On approximating the values,

A=$3689.62

(ii)semiannually

n=2 times per year

On approximating the values,

A=$3695.27

(iii)monthly

n=12 times per year

On approximating,

A=$3700.06

(iv) weekly

n=52 times per year

On approximating,

A=$3700.81

(v) daily

n=365 time per year

On approximating the values,

A=$3701.00

(vi) Continuously

On approximating the value,

A=$3701.03

large crystals result from very slow cooling.

evaporation of water: this would produce an evaporite which is a sedimentary rock. like a salt pan in a desert. not possible to have volcanic rocks originate this way.

crystalization in molten earth: slow cooling over time. (hundreds to millions of years)

crystalization at earth's surface: this results in fast cooling. (a few hours to a few months or years)

crystalization from cooling off hot water: that would be a hydrothermal deposit. while associated with volcanics they are not volcanic rocks themselves and usually occur fairly rapidly.

step-by-step explanation: