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What is the amount of total cash payment that mandy make

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Question 1: 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?

Option A. $15,000

Option B. $5225

Option C. $5450

Option D. $5000

Reference no: EM132597613

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