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. (10 points)

Respuesta :

It would be Patrick because he would be saving more money in the bank because there’s $300 and the i test is 3% which is small

Answer:

Patrick=318.48 Brooklyn=331.48

Explanation:

Brooklyn would get more money