Rob invested $1,330 in an account that pays 3 percent simple interest. Ron insists this would have been a much better investment if Rob would have followed his suggestion to invest in an account with annually compounded interest. Over a 4-year period, how much more money could Rob have earned if he had followed Ron's suggestion?

Mult. Choice:

• $29.31

• $19.65

• $7.33

• $26.20

• $16.27