Question: A demand loan for $8769.29 with interest at 5.7% compounded semi-annually is repaid after 3 years, 5 months. What is the amount of interest paid?

A demand loan for $8769.29 with interest at 5.7% compounded semi-annually

A demand loan for $8769.29 with interest at 5.7% compounded semi-annually is repaid after 3 years, 5 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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