Find compound interest on $ 4000 at 15% per annum for 2 years 4 months, compounded annually. Choose the correct option:	A) 1554.5	B) 1509.5	C) 1108.5	D) 1107.5	E) 1100.5

Rationale: "time = 2 years 4 months = 2 ( 4 / 12 ) years = 2 ( 1 / 3 ) years . amount = $ [ 4000 x ( 1 + ­ ( 15 / 100 ) ) 2 x ( 1 + ( ( 1 / 3 ) * 15 ) / 100 ) ] = $ [ 4000 * ( 23 / 20 ) * ( 23 / 20 ) * ( 21 / 20 ) ] = $ 5554.50 . : . c . i . = rs . ( 5554.50 - 4000 ) = $ 1554.50 answer a ."
Answer: A