Larry and Peggy are making decisions about their bank account Larry wants to deposit $350 as a principal amount with an interest to 4% compounded quarterly Peggy wants to deposit $350 as a principal amount with an interest of 6% compounded monthly explain which method result in more money after two years

Question

jhonyy9 · Answer

so like a first step do you know what mean this interest compounded quarterly ? and the same compounded monthly ?

supie · Answer

Ok so what we have do is,

For Larry, 
$$x=350×(1+0.04÷4) ^(\ ^4\ ^×\ ^ 2 \ ^ ) \ x=?$$

supie · Answer

And for Peggy $$x=350×(1+0.06÷12) \  \ ^(\ ^1\ ^2\ ^×\ ^2\ ^) \x=? $$