Dirk Ward borrowed $12,000.00 for investment purposes on May 19 on a demand note providing for a varlable rate of interest and payment of any accrued interest on December 31. He paid $900 on June 17,...

Extracted text: Dirk Ward borrowed $12,000.00 for investment purposes on May 19 on a demand note providing for a varlable rate of interest and payment of any accrued interest on December 31. He paid $900 on June 17, $100 on September 11, and $400 on November 24. How much is the accrued interest on December 31 if the rate of interest was 4% on May 19, 4 25% effective August 1, and 4.75% effective November 1? The accrued interest on December 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)