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Misha Larkins [42]
3 years ago
15

Larry and Peggy are making decisions about their bank accounts. Larry wants to deposit $350 as a principle amount, with an inter

est of 4% compounded quarterly. Peggy wants to deposit $350 as the principle amount, with an interest of 6% compounded monthly. Explain which method results in more money after 2 years. Show all work.
Mathematics
1 answer:
Pani-rosa [81]3 years ago
4 0
Larry
A=350×(1+0.04÷4)^(4×2)
A=378.99
Peggy
A=350×(1+0.06÷12)^(12×2)
A=394.51

So peggys investment is more
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