Westcoast Machinery received a demand loan of $180,000. It repaid $75,000 at the end of the first year, $80,000 at the end of the second year, and the balance at the end of the third year. If the interest rate charged was 5.5% compounded semi-annually for the first year, 5.25% compounded quarterly for the second year, and 5.15% compounded monthly for the third year, calculate the final payment.

AppendixLO1