Work out the value of (2^3)^2

Scott harris can invest $7,000 in a 1-year cd that earns interest at an annual rate of 4 percent compounded monthly. the amount per $1.00 is 1.040742. he can also invest $7,000 in a 1-year cd at annual rate of 4 percent compounded quarterly. the amount per $1.00 is 1.040604. what is the difference in the amount of interest earned for each investment? a) $0.96 b) $0.81 c) $0.87 d) $0.88

Any is very appreciated! (picture is provided below)not sure how to do this at all won't lie

Yesterday i ran 5 miles. today, i ran 3.7 miles. did my percent increase, decrease or is it a percent error? plz i need