Save HW Score: 7546, 6 of 8 points Points: 0 of 1 E Homework: Lab Assig... Question 7, 8.3,5 An automotive dealer borrowed $10,300.00 from the Bank of Montreal on a demand note on May 13. Interest on the loan, calculated on the daily balance, is charged to the dealer's current account on the 13th of each month. The automotive dealer made a payment of $2200 on July 25, a payment of $4900 on October 1, and repaid the balance on December 1. The rate of interest on the loan on May 13 was 6% per annum. The rate was changed to 6.25% on August 1 and to 65 on October 1. What was the total interest cost for the loan? The total interest cost for the loans | (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed) More . + vo JO Check Answ Clear All 4 View an Example Get More Help Help Me Solve This