## anonymous one year ago Medal will be awarded Patrick and Brooklyn are making decisions about their bank accounts. Patrick wants to deposit $300 as a principle amount, with an interest of 3% compounded quarterly. Brooklyn wants to deposit$300 as the principle amount, with an interest of 5% compounded monthly. Explain which method results in more money after 2 years. Show all work.

1. anonymous

2. anonymous

3% compounded quarterly $300\times \left(1+\frac{.03}{4}\right)^{4\times 2}$

3. anonymous

5% compounded monthly $300\times \left(1+\frac{.05}{12}\right)^{2\times 12}$

4. anonymous

i think the first method is better