A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) The year isn't a leap year.

Principal	Rate	Effective Date	Partial Payment		Maturity Date
			Amount	Date
$2400	3.5%	Jan. 1	$1000	May 1	July 31

What is the balance due on the note at the date of maturity?