On January 1, 2021, Gundy Enterprises purchases an office building for $338,000, paying $58,000 down and borrowing the remaining $280,000, signing a 9%, 10-year mortgage Installment payments of $3,546.92 are due at the end of each month, with the first payment due on January 31, 2021 On January 1, 2021, Gundy Enterprises purchases an office building for $338,000, paying $58,000 down and borrowing the remaining $280,000, signing a 9%, 10-year mortgage Installment payments of $3,546.92 are due at the end of each month, with the first payment due on January 31, 2021