Adam Smith just deposited $5,000 in a guaranteed investment account with a promised rate of 6% compounded annually. He plans to leave it there for 4 full years when he will make a down payment on a car after graduation. How much of a down payment will he be able to make four years later?

a)$6,312.38

b)$7,574.86

c)$5,300.00

d)$6,200.00

e)$6,321.32