Company A opens a savings account at a local bank, and the banks pays 3.5%
compound interest annually. Company A deposits [tex]$12,000 into the savings account and leaves the full amount in the savings account for a year. No additional deposits or withdrawals were made. At the end of the year, the account balance is $[/tex]12,420. The
interest earned is
[tex]$240 I don't know $[/tex]350
[tex]$420 $[/tex]1,000

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