David deposited $5,000 to open a new savings account that earned six percent annual interest, compounded semi-annually. If there were no other transactions in the account, what the amount of money in David account one year after the account was opened? Options:	A) $5,306	B) $6,120	C) $5,136	D) $5,405	E) $5,500
Approach #1:   6 percent annual interest compounded semi-annually --&gt; 3% in 6 moths.   For the first 6 moths interest was 3% of $5,000, so $150;   For the next 6 moths interest was 3% of $5,000,plus3% earned on previous interest of $150, so $150+$6=$156;   Total interest for one year was $150+$156  150+ 6= 
<gadget id="calculator">  150+ 6</gadget>
<output>156</output>
$156;   Total interest for one year was $150+$156=$306, hence balance after one year was $5,000+ $306 150+ 156= 
<gadget id="calculator"> 150+ 156</gadget>
<output>306</output>
$306, hence balance after one year was $5,000+ $306=$5,306.   $5,306nswer: $5,306.
<result>A</result>
David deposited $5,000 to open a new savings account that earned six percent annual interest, compounded semi-annually. If there were no other transactions in the account, what the amount of money in David account one year after the account was opened?