Assume a compnay began operations on January 1 of the current year and maintains a $5,000 minimum cash balance at the end of each month; financing is available and paid back) in $1,000 multiples at a 6% Interest rate, all borrowings and repayments occur at the end of the month; Interest is paid at the time of repaying principal and computed on the portion of principal repald at that time. If the cash excess (deficiency) before financing is ($1,500) for January, $2,600 for February, and $17,500 for March, the Interest pald during the quarter (Ignoring compounding) Is Multiple Choice O $77. $85. $924. O $1,020