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