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Tomasz purchased a new heating and air-conditioning system for his home and financed $7,800 at an annual interest rate of 2.9% compounded monthly for 3

Tomasz purchased a new heating and air-conditioning system for his home and financed $7,800 at an annual interest rate of 2.9% compounded monthly for 3 years. How much interest (in dollars) will Tomasz pay over the term of the loan? (Round your answer to the nearest cent. See Example 9 in this section.)

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