A bank offers two different types of interest on savings accounts. Account one pays 5.5% simple interest.
Account two pays 5% interest compounded annually.

Deposits of $1,000 are made into one account of each type. No additional deposits or withdraws are made.

Which amount is closets to the difference in the interest earned in each account at the end of 5 years?

A) $275.00
B) $276.28
C) $1.28
D) $30.68