An investor deposited $10,000 to open a new savings account that earned 12 percent annual interest, compounded quarterly. If there were no other transactions in the account, what was the amount of money in the account 6 months after the account was opened?  Choose one.
A) $10,300 B) $10,303 C) $10,600 D) $10,609 E) $10,900
The amount in the account after 6 months is 1.03*1.03($10,000) = $10,609.   The answer is $10,609.
<result>D</result>
An investor deposited $10,000 to open a new savings account that earned 12 percent annual interest, compounded quarterly. If there were no other transactions in the account, what was the amount of money in the account 6 months after the account was opened?