Consider the two savings plans below. Compare the balances in each plan after 12 years. Which person deposited more money in the​ plan? Which of the two investment strategies is​ better?

Question

Yolanda deposits ​$600 per month in an account with an APR of ​3%, while Zach deposits ​$7200 at the end of each year in an account with an APR of ​3%.

Answer 1

clearly a rate of 3% per annum compounded monthly will yield more
than a rate of 3% per annum

You are using the same formula in each case, just like all your other questions of the same type

case 1:
amount = 600( (1 + .03/12)^144 - 1)/(.03/12) = ...

case 2:
amount = 7200( 1.03^12 - 1)/.03 = .....