An automotive dealer borrowed $9800.00 from the Bank of Montreal on a demand note on May 7 . Interest on the loan, calculated on the daily balance, is charged to the dealer's current account on the 7th of each month. The automotive dealer made a payment of $2200 on July 25 , a payment of $4200 on October 1, and repaid the balance on December 1. The rate of interest on the loan on May 7 was 6 % per annum. The rate was changed to 6.4% on August 1 and to 7 % on October 1. What was the total interest cost for the loan