Armando needs to borrow $1,250 for 5 years. His current bank charges 4.8% interest compounded annually, while a credit union charges a 5.2% simple interest rate. Which bank will result in the smaller amount of money Armando will have to pay back at the end of 5 years? Round to the nearest hundredth. Calculate the total amount Armando will have to pay back to his current bank.

A = $2,104.13
A = $8.876.03
A = $9,540.93
A = $1,580.22