A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity (The Effective Date is the date the note was written.) Assume the year is not a leap year. Principle: $2000
Rate: 4%
Effective date: may 1st
Partial payment on June 1st: $1000
Maturity date: July 1st

The balance due on the note at the date of maturity is $
(Round to the nearest cent as needed.)