Answer
$\$554.09$
Work Step by Step
According to the Compound Interest Formula, where $P$ is the principal, the amount deposited, $r$ is the annual interest rate, $n$ is the number of times the interest is compounded annually, $t$ is the number of years, $A$ is the amount you get back after $t$ years:
$A=P\cdot(1+\frac{r}{n})^{n\cdot t}$
Here we have:
$t=2\text{ years}$
$r=4\%=0.04$
$A=\$600$
$n=4$ (since it is compounded quarterly)
Substitute these values into the formula above to obtain:
$\$600=P\cdot\left(1+\frac{0.04}{4}\right)^{4\cdot 2}$
Hence,
$P=\dfrac{\$600}{\left(1+\frac{0.04}{4}\right)^{4\cdot 2}}\approx\$554.09$
