On 1 January 2017,Bratios Company Purchases Equipment and Signs a 6-Year

Multiple Choice

On 1 January 2017,Bratios Company purchases equipment and signs a 6-year mortgage payable for $93,000 at 15%.The mortgage will be paid in equal annual instalments of $24,574,beginning 1 January 2018.Calculate the portion of principal amount paid on the third instalment.(Round to the nearest dollar. )

A) $14,050
B) $10,524
C) $24,574
D) $13,950