An investor deposited $5,000 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 the correct choice from the following options:
A) $5300.50  B) $5304.50  C) $5405.50  D) $5604.50  E) $5805.50
The amount in the account after 6 months is 1.03*1.03($5,000) = $5304.50.   The answer is $5304.50.
<result>B</result>
An investor deposited $5,000 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?