On March 1, 2016, Mandau Services issued a 3% long-term notes payable for $15,000 It is payable over a 3-year term in $5,000 principal installments on March 1 of each year, beginning March 1, 2017. Each yearly installment will include both principal repayment of $5,000 and interest payment for the preceding one-year period. What is the amount of total cash payment that Mandau will make on March 1, 2017?
A) $5,000
B) $5,450
C) $15,000
D) $5,225
B .Principal payment $5,000
Add: Interest ($15,000 x 3%) 450
Total cash payment $5,450
You might also like to view...
A job description defines and discusses all the essential knowledge, skills, and abilities that are needed to fill a position.
Answer the following statement true (T) or false (F)
Answer the following statement(s) true (T) or false (F)
1. In global companies the central corporate office still has the dominant decision-making power. 2. Soliciting input from employees with different backgrounds and life experiences positively impact the companies external outputs and internal processes. 3. Women migrate autonomously in far less numbers than men. 4. Global legislative trends banning discrimination have required employers to provide designated groups a competitive advantage when seeking jobs. 5. Unbalanced fertility rates in different regions of the world are projected to create unprecedented workforce tensions.
Which of the following is true about f(x) when X has a uniform distribution over the interval [a, b]?
a. The values of f(x) are different for various values of the random variable X. b. f(x) equals one for each possible value of X. c. f(x) equals one divided by the length of the interval from a to b. d. None of these choices.
Which of the following statements is(are) true?(A) A favorable variance is not necessarily good, and an unfavorable variance is not necessarily bad.(B) The master budget includes operating budgets (e.g., production budget) and financial budgets (e.g., cash budget).
A. Only A is true. B. Only B is true. C. Both of these are true. D. Neither of these is true.