Find the sum that $3000 will amount to?

Question

To what sum will $3000 amount to in 10 years if invested at a 4% effective rate for the first 5 years and at a rate of 4% compounded semiannually thereafter?

Answer 1

A₁ = 3000(1 + 0.04)(10)      this assuming simple interest

A₂ = A₁(1 + 0.04/12)^12t      this indeterminate until t is defined

Answer 2

3000(1.04)⁵(1.04)¹⁰=5402.83