Solve the problem. Round to the nearest cent.Tom deposited $2410 in a bank that pays 12% interest, compounded monthly. Find the amount he will have at the end of 3 years.

Use the compound interest formula A = P(1 + r/n)^(nt). Here, A = 2410(1 + 0.12/12)^(12×3) = 2410(1.01)^36 ≈ $3,448.15, so Tom will have $3,448.15 at the end of 3 years.

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