Dirk Ward borrowed $13,000.00 for investment purposes on May 8 on a demand note providing for a variable rate of interest and payment of any accrued interest on December 31. He paid $900 on June 11,...

Extracted text: Dirk Ward borrowed $13,000.00 for investment purposes on May 8 on a demand note providing for a variable rate of interest and payment of any accrued interest on December 31. He paid $900 on June 11, $200 on September 23, and $1200 on November 17. How much is the accrued interest on December 31 if the rate of interest was 6% on May 8, 6.6% effective August 1, and 6.95% 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.)