Question: On March 1, 2018, Mandy Services issued a 10% long-term notes payable for $15,000. It is payable over a 3-year term in $5,000 principal installments

On March 1, 2018, Mandy Services issued a 10% 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, 2019. 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 Mandy will make on March 1, 2019?

A. $15,000

B. $5,000

C. $6,500

D. $5,750

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