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A landlord needs to update a rental house due to it's age, so it can be habitable again. If he has that ability to cover

A landlord needs to update a rental house due to it's age, so it can be habitable again. If he has that ability to cover a $1,200.00 payment monthly for 3 years at 3% compounded monthly, how much can he borrow and still be able to afford the payment?

He can borrow $. (Round to 2 decimal places.)

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