Question: Mario borrowed $6000 on March 1 at a variable rate of interest. The interest rate began at 7.5%, increased to 8% effective April 17, and

Mario borrowed $6000 on March 1 at a variable rate of interest. The interest rate began at 7.5%, increased to 8% effective April 17, and then fell by 0.25% effective June 30. How much interest will be owed on the August 1 repayment date?

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