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Larry and Peggy are making decisions about their bank accounts. Larry wants to deposit $350...

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Basic Math

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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. Show all work.

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