Suppose that a landlord is interested in renting out a two-bedroom apartment for $1000 a month for the next year. The landlord requires rent to be paid at the end of the month, at which point he will deposit the rental check into a local savings account. If the annual interest that the tenant can earn on this account is 5% and interest is compounded monthly, how much will the landlord have in his savings account at the end of the year?

a. $12,330,01
b. $12.278.86
c. $13,330.02
d. $15,917.13