George deposited $$8,000$ this morning into an account that pays $6$ percent interest, compounded annually. John also deposited $$8,000$ this morning into an account that pays $6$ percent interest, compounded annually. George will withdraw his interest earnings and spend it as soon as possible. John will reinvest his interest earnings into his account. Given this, which one of the following statements is true?

Group of answer choices

After five years, George and John will both have earned the same amount of interest.

George will earn compound interest.

John will earn more interest the first year than George will.

John will earn interest on interest.

George will earn more interest in year three than John will.