Interest Rate: 4% monthly Starting Balance: 124 Time Passed: 4 months How much interest has accrued if calculated as compound interest? What is the new total balance?  Choose the correct choice from the following answers:
A) 21 & 145	B) 22 & 146	C) 23 & 145	D) 20 & 140	E) None
Compound Interest: Total Balance = P(1 + R)T P = principle = starting balance = $124 R = interest rate = 4% T = time = 4 years Total balance = principle × (1 + interest rate)time = 124 × (1 + (4 / 100))4 = 145 Interest accrued = total balance - starting balance = 145 - 124= 
<gadget id="calculator">145 - 124</gadget>
<output>21</output>
21   21 &amp; 145nswer 21 &amp; 145
<result>A</result>
Interest Rate: 4% monthly Starting Balance: 124 Time Passed: 4 months How much interest has accrued if calculated as compound interest? What is the new total balance?