An investor deposited $5,000 to open a new savings account that earned 12 percent annual interest, compounded quarterly. If there were no other transactions in the account, what was the amount of money in the account 6 months after the account was opened?
Options
A) $ 5300.50 B) $ 5304.50 C) $ 5405.50 D) $ 5604.50 E) $ 5805.50

Rationale: "the amount in the account after 6 months is 1.03 * 1.03 ( $ 5,000 ) = $ 5304.50 . the answer is b ."
Answer: B