To find the interest rate x in the first year, divide 12336 dollars by 12000 dollars. You will get

     = 1.028.


Thus the effective growth coefficient is 1.028.  Hence, the annual compound interest in the first year is 2.8%.


In the second year, the annual interest rate is half of it, i.e.  0.028/2 = 0.014,

or the growth multiplicative coefficient of the compound interest in the second year is 1.014.


Hence, the amount after the second year will be

    12336*1.014 = 12508.70  dollars.     ANSWER