Carl is facing very difficult financial times and can only pay the interest on a $10,000 loan he has taken. The bank charges him a quarterly compound rate of 6%. What is the approximate interest he pays annually?
Choose the correct answer
A) $ 1200  B) $ 2000  C) $ 2150  D) $ 2500  E) $ 12000

Rationale: "an easy way too attempt this is by approximation : for the first quarter , he pays 6 % of 10,000 which is $ 600 . so for the four quarters in the year , he will approximately play 600 * 4 = 2400 over the entire year . the compound interest will be more than 2400 . all other options are not right except d . answer : d"
Answer: D