Interest is compounded semiannually. Find the amount in the account after the given time.
$$\text{Unknown environment 'tabular'}$$
The amount in the account is $\mathrm{\$}$
(Simplify your answer. Type a whole number or a decimal. Round to the nearest cent if needec

Step 1 ：The problem is asking for the final amount in an account after a certain period of time, given a principal amount, an interest rate, and a compounding period. The formula for compound interest is: $A=P(1+\frac{r}{n}{)}^{nt}$ where: $A$ is the amount of money accumulated after $n$ years, including interest, $P$ is the principal amount (the initial amount of money), $r$ is the annual interest rate (in decimal), $n$ is the number of times that interest is compounded per year, and $t$ is the time the money is invested for in years.

Step 2 ：In this case, the principal $P$ is $3000, the annual interest rate $r$ is 7% or 0.07 in decimal, the number of times interest is compounded per year $n$ is 2 (since it's semiannually), and the time $t$ is 1 year.

Step 3 ：We can substitute these values into the formula and calculate the final amount.

Step 4 ：$P=3000$

Step 5 ：$r=0.07$

Step 6 ：$n=2$

Step 7 ：$t=1$

Step 8 ：$A=P(1+\frac{r}{n}{)}^{nt}=3000(1+\frac{0.07}{2}{)}^{2\ast 1}=3213.6749999999997$

Step 9 ：Final Answer: The amount in the account after 1 year is $\boxed{{\displaystyle \mathrm{\$}3213.67}}$