Automotive Excellence Inc. borrowed $20 000 on August 12 with an interest rate of 6.75% per annum.

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Automotive Excellence Inc. borrowed $20 000 on August 12 with an interest rate of 6.75% per annum. On November 1, $7500 was repaid, and on December 15, $9000 was repaid. Automotive Excellence paid the balance of the loan on February 20. What was the final payment?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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