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Tomasz purchased a new heating and air-conditioning system for his home and financed $5,600 at an annual interest rate of 3.7% compounded monthly for 3
Tomasz purchased a new heating and air-conditioning system for his home and financed $5,600 at an annual interest rate of 3.7% compounded monthly for 3 years. How much interest (in dollars) will Tomasz pay over the term of the loan?
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