Joseph is a friend of yours. He has plenty of money but little financial sense. He received a gift of $12,000 for his recent graduation and is looking for a bank in which to deposit the funds. Partners' Savings Bank offers an account with an annual interest rate of 3% compounded semiannually, whereas Selwyn's offers an account with a 2.75% annual interest rate compounded continuously. Calculate the value of the two accounts after 1 year, and recommend to Joseph which account he should choose.