Bob is a college student who has $6,000 in savings that he earned from his summer job. He plans to leave the $6,000 in a 5 percent certificate of deposit (CD) for four years, but his banker has asked Bob whether he wants the interest earned on the CD mailed to him at the end of each year, or if the interest should be reinvested in the CD at the end of each year. Approximately how much more will Bob earn if he decides to reinvest the interest rather than withdrawing the interest income each year?
A) $1,000
B) $78
C) $1,078
D) $96