Dirk Ward borrowed $15,000 for investment purposes on May 10 on a demand note providing for a variable rate of interest and payment of any accrued interest up to, and including, December 31. He paid $200 on June 25, $150 on September 20, and $200 on November 5. How much is the accrued interest on December 31 if the rate of interest was 7.5% on May 10, 6% effective August 1, and 5% effective November 1? (Use the Declining Balance Method) June 25 Payment Calculate the interest accrued to June 25. Calculate the amount of the payment that can be applied to the principal. Calculate the remaining principal. September 20 Payment Calculate the interest accrued to August 1. Calculate the interest accrued to September 20. Calculate the amount of the payment that can be applied to the principal. (a negative number) Calculate the remaining principal.