Liz was supposed to pay Lucy $4,700, 6 months ago, and $2,020, 5 months from now. If she wants to reschedule these payments with two payments, one payment of $3,900 today and the balance 3 months from now, calculate the balance amount. Assume that the simple interest charged is 3.25% p.a. and the agreed focal date is 3 months from now. Round to the nearest cent