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Menu Home On December 1, 2018, Garden Products borrowed $87,000 on a 10%, 16-year note with annual installment payments of $5,438 plus interest due on

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Menu Home On December 1, 2018, Garden Products borrowed $87,000 on a 10%, 16-year note with annual installment payments of $5,438 plus interest due on December 1 of each subsequent year. Which of the following describes the first installment payment made on December 1, 2019? (Round your answer to the nearest whole number.) ase Option dar O A. $5,438 principal plus $544 interest O B. $8,700 interest only OC. $5,438 principal plus 55,438 interest OD. $5,438 principal plus $8,700 interest 7 of 7 questi

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