What will $500 amount to in three years if it is invested at 20% per year compound interest, with the interest being compounded annually?	Choose the correct choice from the following options:
A) $788	B) $812	C) $864	D) $878	E) $912
After one year: 1.2 * $500   After two years: (1.2)^2 * $500   After three years: (1.2)^3 * $500 = $864   The answer is $864.
<result>C</result>
What will $500 amount to in three years if it is invested at 20% per year compound interest, with the interest being compounded annually?