Question: 27. B. Row, Inc. needed some long-term financing and arranged for a 10-year, $100,000, 7% mortgage loan on January 1, 2010. Annual payments of $14,238

27. B. Row, Inc. needed some long-term financing and arranged for

27. B. Row, Inc. needed some long-term financing and arranged for a 10-year, $100,000, 7% mortgage loan on January 1, 2010. Annual payments of $14,238 will be made on December 31 each year. After the SECOND payment, Mortgage payable will have a balance of _ (rounded to the nearest $1). A) $100,000 B) $85,762 C) $85,017 D) $86,000

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