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How much is the accrued interest on december

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Dirk Ward borrowed $13,000.00 for investment purposes on May 5 on a demand note providing for a variable rate of interest and payment of any accrued interest on December 31. He paid $700 on June 17, $200 on September 21, and $500 on November 7. How much is the accrued interest on December 31 if the rate of interest was 8% on May 5, 8.35% effective August 1, and 8.95% effective November 1? The accrued interest on December 31 is $].

Reference no: EM133068207

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