Jason W, bought a Mercedes when he came to UTM as an engineering student. The Mercedes was purchased by taking a loan that was to be paid off in 20 equal, quarterly payments. The interest rate on the loan was 12persent. Four years later, after Jason made his 16^th payment, he got married and sold the Mercedes to his buddy Houston S. Houston made arrangements with Jason's bank to refinance the loan and to pay Jason's unpaid balance by making equal, quarterly payments at the same interest rate that Jason was paying. Houston flunked out of UTM 3^1/4 years later, after having made his 13^th payment; he then sold the flat to Jeff M. Jeff paid the bank S2000 cash to pay the loan balance. How much had Jason borrowed to buy the new Mercedes