Question: A demand loan for $11,727,31 with interest at 87% compounded quarterly is repaid after 8 years, 2 months. What is the amount of interest paid?

A demand loan for $11,727,31 with interest at 87% compounded quarterly is repaid after 8 years, 2 months. What is the amount of interest paid? The amount of interest is S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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