Sam deposited $12,000 to open a new savings account that earned eight percent annual interest, compounded semi-annually. If there were no other transactions in the account, what the amount of money in Sam account one year after the account was opened?	Choose one.
A) $13,128  B) $12,763  C) $12,968  D) $12,942  E) $12,865
Approach #1:   8 percent annual interest compounded semi-annually --&gt; 2.5% in 6 moths.   For the first 6 moths interest was 4% of $12,000, so $480;   For the next 6 moths interest was 4% of $12,000,plus8% earned on previous interest of $480, so $480+$8=$488;   Total interest for one year was $480+$488  480+ 8= 
<gadget id="calculator">  480+ 8</gadget>
<output>488</output>
$488;   Total interest for one year was $480+$488=$968, hence balance after one year was $12,000+ $968 480+ 488= 
<gadget id="calculator"> 480+ 488</gadget>
<output>968</output>
$968, hence balance after one year was $12,000+ $968=$12,968.   Answer: $12,968.
<result>C</result>
Sam deposited $12,000 to open a new savings account that earned eight percent annual interest, compounded semi-annually. If there were no other transactions in the account, what the amount of money in Sam account one year after the account was opened?