On March 1,2018,Mandy Services Issued a 3% Long-Term Notes Payable

Multiple Choice

On March 1,2018,Mandy Services issued a 3% long-term notes payable for $15,000.It is payable over a 3-year term in $5000 principal installments on March 1 of each year,beginning March 1,2019.Each yearly installment will include both principal repayment of $5000 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) $5000
B) $5450
C) $15,000
D) $5225