Robert invests $120,000 in an account that pays 12% annual interest: the interest is paid once, at the end of the year. Jody invests $120,000 in an account that pays 12% annual interest, compounding monthly at the end of each month. At the end of one full year, compared to Robert's account, approximately how much more does Jody’s account have? Choose the correct choice: A) Zero B) $81.90 C) $819.00 D) $8190.03 E) $81900.30
Robert's interest= $120,000*0.12 = $14400 or $1,200 each month.   Jody’s interest, 12%/12 = 1% each month:   For the 1st month = $120,000*0.01 = $1,200;   For the 2nd month = $1,200 + 1% of 1,200 = $1,212, so we would have interest earned on interest (very small amount);   For the 3rd month = $1,212 + 1% of 1,212 = ~$1,224;   For the 4th month = $1,224 + 1% of 1,224 = ~$1,236;   ...   For the 12th month = $1,320 + 1% of 1,320 = ~$1,332.   The difference between Robert's interest and Jody's interest = ~(12 + 24 + ... + 132) = $792.   Answer: $819.00.
<result>C</result>
Robert invests $120,000 in an account that pays 12% annual interest: the interest is paid once, at the end of the year. Jody invests $120,000 in an account that pays 12% annual interest, compounding monthly at the end of each month. At the end of one full year, compared to Robert's account, approximately how much more does Jody’s account have?