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On March? 1, 2018, Mandy Services issued a 5?% long?term notes payable for $18,000. It is payable over a 3?year term in $6,000 principal installments
On March? 1, 2018, Mandy Services issued a 5?% long?term notes payable for $18,000. It is payable over a 3?year term in $6,000 principal installments on March 1 of each? year, beginning March? 1, 2019. Each yearly installment will include both principal repayment of $6,000 and interest payment for the preceding one?year period. What is the amount of total cash payment that Mandy will make on March? 1, 2019?
A.6450
B.18000
C.6000
D.6900
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