Ms. Lopez deposits $ 100 in an account that pays 20% interest, compounded semiannually. How much money will there be in the account at the end of one year?	Choose the correct option
A) $ 118.00
B) $ 120.00
C) $ 121.00
D) $ 122.00
E) $ 140.00

Rationale: "et me explain the concept for those who are not familiar with compounded semi annually / quarterly etc . . it basically means , here , that the interest will be paid twice , after 6 months and at the end of year . . so twice . . but interest is 20 % , which will get distributed semiannually that is 10 % . . . so the q literally means . . after 6 months . . 100 * 10 / 100 + 100 = 110 . . at the end of year 110 * 10 / 100 + 110 = 121 . . or we put it in compound interest formula . . where ci = 10 % , t is 2 and p = 100 . . so amount = 100 ( 1 + 10 / 100 ) ^ 2 = 100 * 1.1 * 1.1 = 121 . . answer : c"
Answer: C