Question: Dirk Ward borrowed $ 1 1 0 0 0 . 0 0 for investment purposes on May 2 5 on a demand note providing for

Dirk Ward borrowed $11
000.00 for investment purposes on May 25 on a demand note providing for a variable rate of interest and payment of any accrued interest on December 31. He paid $800 on June 17,$150 on September 9, and $400 on November 4. How much is the accrued interest on December 31 if the rate of interest was 8% on May 25,8.5% effective August1, and 8.85% effective November1?
 Dirk Ward borrowed $11 000.00 for investment purposes on May 25

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