John deposited $10,000 to open a new savings account that earned 10 percent annual interest, compounded quarterly. If there were no other transactions in the account, what was the amount of money in John’s account 6 months after the account was opened?	Choices:	A) $10,100.75	B) $10,101.75	C) $10,506.25	D) $10,201.35	E) $10,404.25
10 percent annual interest compounded quarterly --&gt; 2.5% in 3 moths.   For the first 3 moths interest was 2.5% of $10,000, so $250;   For the next 3 moths interest was 2.5% of $10,000,plus6.25 earned on previous interest of $250, so $250+$6.25=$256.25;   Total interest for 6 months was $250+$256.25  250+ 6.25= 
<gadget id="calculator">  250+ 6.25</gadget>
<output>256.25</output>
$256.25;   Total interest for 6 months was $250+$256.25=$506.25, hence balance after 6 months was $10,000+ $506.25 250+ 256.25= 
<gadget id="calculator"> 250+ 256.25</gadget>
<output>506.25</output>
$506.25, hence balance after 6 months was $10,000+ $506.25=$10,506.25.   Answer: $10,506.25.
<result>C</result>
John deposited $10,000 to open a new savings account that earned 10 percent annual interest, compounded quarterly. If there were no other transactions in the account, what was the amount of money in John’s account 6 months after the account was opened?