Sunil deposited $6,000 to open a new savings account that earned 4 percent annual interest, compounded semi-annually. If there were no other transactions in the account, what the amount of money in Sunil account one year after the account was opened? Choose the correct choice from the following choices:
A) $6,200  B) $6,255  C) $6,200  D) $6,205  E) $6,244
Approach #1:   4 percent annual interest compounded semi-annually --&gt; 2% in 6 moths.   For the first 6 moths interest was 2% of $6,000, so $120;   For the next 6 moths interest was 2% of $6,000,plus2% earned on previous interest of $120, so $120+$4=$124;   Total interest for one year was $120+$124  120+ 4= 
<gadget id="calculator">  120+ 4</gadget>
<output>124</output>
$124;   Total interest for one year was $120+$124=$244, hence balance after one year was $6,000+ $244 120+ 124= 
<gadget id="calculator"> 120+ 124</gadget>
<output>244</output>
$244, hence balance after one year was $6,000+ $244=$6,244.   Answer: $6,244.
<result>E</result>
Sunil deposited $6,000 to open a new savings account that earned 4 percent annual interest, compounded semi-annually. If there were no other transactions in the account, what the amount of money in Sunil account one year after the account was opened?