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Automotive Excellence Inc. borrowed$20,000.00 on June 21 with an interest rate of 5.3% per annum. On July 5, $5600.00 was repaid, and on August 10,
Automotive Excellence Inc. borrowed$20,000.00 on June 21 with an interest rate of 5.3% per annum. On July 5, $5600.00 was repaid, and on August 10, $5500.00 was repaid. Automotive Excellence paid the balance of the loan on October 11. What was the final payment?
The final payment was $_____ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)
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