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A demand loan for $7723.36 with interest at 8.6% compounded semi-annually is repaid after 6 years, 8 months. What is the amount of interest paid?

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A demand loan for $7723.36 with interest at 8.6% compounded semi-annually is repaid after 6 years, 8 months. What is the amount of interest paid? The amount of interest is (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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