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Triple Town Bank pays 2 . 8 percent simple interest on its savings accounts every year. Doubleton Bank pays 3 . 5 APR compounded quarterly

Triple Town Bank pays 2.8 percent simple interest on its savings accounts every year. Doubleton Bank pays 3.5 APR compounded quarterly on its savings accounts. Sixteen years ago, Jake invested $2,000 in each bank. What is the difference, if any, in his account balances today?
A. $96.00
B. $148.97
C. $190.48
D. $571.97
E. $596.83
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