On a certain day, Tim invested $500 at 10 percent annual interest, compounded annually, and Lana invested 800 at 5 percent annual interest, compounded annually.The total amount of interest earned by Tim’s investment in the first 2 years was how much greater than the total amount of interest earned by Lana’s investment in the first 2 years?	Choose the correct choice from the following choices:
A) $5
B) $15
C) $23
D) $100
E) $105
Compounded annually means that the interest is applied once per year. One can have 10% annual interest compounded monthly - in this case 10%/12 would be applied each month, or 10% annual interest compounded daily etc.   With respect to the problem at hand, at the end of two years, Tim would have   500(1.10)^2 = 500(1.21) = 605   and Lana would have   800(1.05)^2 = 800(1.1025) = 882   Thus, Tim earned 105 dollars, while Lana earned 82 dollars   The difference is $23 and the answer is $23.
<result>C</result>
On a certain day, Tim invested $500 at 10 percent annual interest, compounded annually, and Lana invested 800 at 5 percent annual interest, compounded annually.The total amount of interest earned by Tim’s investment in the first 2 years was how much greater than the total amount of interest earned by Lana’s investment in the first 2 years?