Find the compound interest on $500 in 5years at 5% per annum, the interest being compounded yearly? Choose the correct choice from the following answers
A) $ 138.14  B) $ 150.12  C) $ 142.65  D) $ 152  E) $ 164.12

Rationale: "principle = $ 500 rate = 5 % yearly amount = 500 * ( 1 + 5 / 100 ) ^ 5 = 500 * 21 / 20 * 21 / 20 * 21 / 20 * 21 / 20 * 21 / 20 = $ 638.14 c . i . = 638.14 - 500 = $ 138.14 answer is a"
Answer: A