Michelle deposited a certain sum of money in a savings account on July 1st, 2007. She earns an 6% interest compounded semiannually. The sum of money in the account on December 31st, 2009 is approximately what percent of the initial deposit? Choose the most appropriate option:  A) 117 %  B) 120 %  C) 121 %  D) 135 %  E) 140 %

Rationale: "since michelle earns 6 % interest compounded semiannually , then she earns 3 % interest every 6 months . now , the simple interest earned in 5 periods ( 30 months = 5 * 6 months ) would be 3 % * 5 = 15 % . but , since the interest iscompoundedevery 6 months , then there would be interest earned on interest ( very small amount ) thus the actual interest earned would be a little bit more than 15 % , only answer choice a fits . answer : a"
Answer: A