Lester Had $6,270 in His Savings Account at the Beginning

Multiple Choice

Lester had $6,270 in his savings account at the beginning of this year.This amount includes both the $6,000 he originally invested at the beginning of last year plus the $270 he earned in interest last year.This year, Lester earned a total of $282.15 in interest even though the interest rate on the account remained constant.This $282.15 is best described as:

A) simple interest.
B) interest on interest.
C) discounted interest.
D) complex interest.
E) compound interest.