When situations arise in which your organization cannot meet one or more standards immediately, it is vitally important to recognize an exception to standards to determine where problems may exist. a reference: p 159 true false

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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.