Olivia was supposed to pay Timothy $4,800, 6 months ago, and $1,980,5 months from now. If she wants to reschedule these payments with two payments, one payment of $2,500 today and the balance 3 months from now, calculate the balance amount. Assume that the simple interest charged is 4.50% p.a. and the agreed focal date is 3 months from now. Round to the nearest cent