PC Financial approved a $$75000$ line of credit on a demand basis to Little Blessings day care to

finance equipment. Interest at the rate of prime plus $1\%$ is charged to the account at the bank on the $15$th

of each month. The initial advance was $$45000$ on July $15,$ when the prime rate stood at $3\%.$ There were

further advances of $$8000$ on August $20$ and $$10000$ on September $10.$ Payments of $$15000$ each were

applied against the principal on October $1$ and November $1.$ What was the total interest accumulated on

the loan for the period July $15$ to November $15?$