Answer
$230$ more, 6.5%
Work Step by Step
3000 to invest for 10 years
6.5% compounded semiannually
$P=3000$
$n=2$
$t=10$
$r=.065$
$A=P*(1+(r/n))^{n*t}$
$A=3000*(1+(.065/2))^{2*10}$
$A=3000*(1.0325^{20})$
$A=3000*1.895838$
$A=5687.51$
6% compounded monthly
$P=3000$
$n=12$
$t=10$
$r=.06$
$A=P*(1+(r/n))^{n*t}$
$A=3000*(1+(.06/12))^{12*10}$
$A=3000*(1.005^{120})$
$A=3000*1.819396$
$A=5458.19$
$5687.51-5458.19=229.32$
