Larry and Peggy are making decisions about their bank accounts. Larry wants to deposit $350 as a principle amount, with an interest 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. (10 points)

Larry wants to deposit $350 as a principle amount, with an interest of 4% compoundedquarterly.
=> 350 * 0.04 = 14 dollars per quarter.
=> 14 * 4 quarter per year = 56 dollars per year
=> 56 * 2 = 112 dollars for 2 years

Peggy wants to deposit $350 as the principle amount, with an interest of 6% compounded monthly. 
=> 350 * 0.06 = 21 dollars per month
=> 21 dollars * 24 months = 504 dollars in 2 years.