Find the compound interest on $1200 for 4 years at 20% p.a. if CI is component yearly?
Select the correct option.
A) $120 B) $150 C) $1288 D) $250 E) $300
A = P(1 + R/100)^T   = 1200(1 + 20/100)^4   =$2488   $1288I = $1288   Answer is $1288
<result>C</result>
Find the compound interest on $1200 for 4 years at 20% p.a. if CI is component yearly?