Step-by-step explanation:
A = P (1 + r/n)^(nt)
where A is the final amount,
P is the initial amount (principal),
r is the annual rate,
n is the number of compoundings per year,
and t is the number of years.
Under Ahmed's plan:
A = 300 (1 + 0.03/4)^(4×2)
A = 318.48
Under Bilqis's plan:
A = 300 (1 + 0.05/12)^(12×2)
A = 331.48
Bilgis's plan has more money after 2 years.
