What is the difference between these two quesiton. please explain in detail and solve them. (this question is from Engineering economy)

If $500 were deposited in a bank savings account, how much would be in the account 1 year from now if the bank paid 6% interest, compounded quarterly? vs Per-Period Interest Rate o Ii $500 were deposited in a bank sans accouni, how much would be in the account 1 year from now if he bank palid ( % in 'cres : per comp)()unding period, compounded quarterly