The local bank offers to pay 5% interest on savings deposits. In a nearby town, the bank pays 1.25% per 3- month period (quarterly). A man who has $3000 to put in a savings account wonders whether the increased interest paid in the nearby town justifies driving his car there to make the deposit. Assuming he will leave all money in the account for 2 years, how much additional interest would he obtain from the out-of-town bank over the local bank?