Larry and Peggy are making decisions about their bank accounts. Larry wants to deposit $350 as a principal amount, with an interest of 4% compounded quarterly. Peggy wants to deposit $350 as the principal amount, with an interest of 6% compounded monthly. Explain which method results in more money after 2 years.

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Astrid1 · Answer

Hi, hello! Sorry I am just now replying to this. You question has already been answered on a post by another user, so I will just link it down below. https://questioncove.com/updates/56e6ecf5e4b0424cb0fe5b40