Dirk Ward borrowed $12,000.00 for investment purposes on May 18 on a demand note providing for a variable rate of interest and payment of any accrued interest on December 31. He paid

$900 on June 10, $200 on September 20, and $1000 on November 10.. How much is the accrued interest on December 31 if the rate of interest was 7% on May 18, 7.4%

effective August 1, and 7.7% effective November 1?

The accrued interest on December 31 is $_____-

Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.