Find the compound interest on $1200 for 3 years at 20% p.a. if CI is component yearly? Choose the correct choice from the following choices.
A) $ 120 B) $ 150 C) $ 874 D) $ 250 E) $ 300

Rationale: "a = p ( 1 + r / 100 ) ^ t = 1200 ( 1 + 20 / 100 ) ^ 3 = $ 2074 ci = $ 874 answer is c"
Answer: C