Burchfield, Inc. has prepared its third quarter budget and provided the following data:

	Jul	Aug	Sep
Cash collections	$49,000	$39,700	$48,000
Cash payments:
Purchases of direct materials	31,000	22,100	18,100
Operating expenses	12,300	8,400	11,400
Capital expenditures	13,200	24,000	0

The cash balance on June 30 is projected to be $5,600. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 4%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. Calculate the amount of principal repayment at the end of September.