Vanessa deposits $24,000 into each of two savings accounts.

Account I earns 2.4% interest compounded annually.
Account II earns 2.4% annual simple interest.
There are no additional deposits or withdrawals.
What is the sum of the balances of these accounts at the end of 5 years?


$53,760.00

$53,901.59

$54,043.20

$56,640.00