Find the compound interest on $ 16,000 at 20% per annum for 9 months, compounded quarterly	Choose the most appropriate option:  A) 2532  B) 2552  C) 2524  D) 2522  E) 2512
Principal = $ 16000; Time = 9 months =3 quarters;   Rate = 20% per annum = 5% per quarter.   Amount = $ [16000 x (1+(5/100))^3] = $ 18522.   CI. = $ (18522 - 16000)= 
<gadget id="calculator">(18522 - 16000)</gadget>
<output>2_522</output>
$ 2522.   Answer 2522.
<result>D</result>
Find the compound interest on $ 16,000 at 20% per annum for 9 months, compounded quarterly