The Company's accountant told them they will get the refund of $8500 on their income taxes. They're excited and decide to borrow as much as possible now to go on lifelong dream tour of 1 month in the Amazon in South America. They do not want to borrow more than can be repaid with their income tax refund. Find the proceeds if their accountant agrees to lend them the funds at 7% compounded monthly for 2 months.