James deposits $12,000 into each of two savings accounts.



Account I earns 2. 2% interest compounded annually.


Account II earns 2. 2% annual simple interest.


There are no additional deposits or withdrawals.


What is the sum of the balances of these accounts at the end of 7 years?




$27,168. 00



$27,696. 00



$27,822. 53



$27,949. 8