On 1 January 2017,Bratios Company Purchases Equipment and Signs a 6-Year

question 72

Multiple Choice

On 1 January 2017,Bratios Company purchases equipment and signs a 6-year mortgage payable for $93,000 at 15%.The mortgage will be paid in equal annual instalments of $24,574,beginning 1 January 2018.Calculate the portion of principal amount paid on the third instalment.(Round to the nearest dollar. )

• A)$14,050
• B)$10,524
• C)$24,574
• D)$13,950