Find the compound interest on $1200 for 6 years at 20% p.a. if CI is component yearly?
Choose the correct answer:
A) $120
B) $150
C) $2383
D) $250
E) $300
A = P(1 + R/100)^T   = 1200(1 + 20/100)^6   =$3583   $2383I = $2383   Answer is $2383
<result>C</result>
Find the compound interest on $1200 for 6 years at 20% p.a. if CI is component yearly?