Thayer Company purchased a building on January 2 by signing a long-term $2,520,000 mortgage with monthly payments of $23,100. The mortgage carries an interest rate of 10 percent. The amount owed on the mortgage after the first payment will be
A) $2,520,000.
B) $2,517,900.
C) $2,499,000.
D) $2,496,900.

Question

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The Answer of Thayer Company purchased a building on January 2 by signing a long-term $2,520,000 mortgage with monthly payments of $23,100. The mortgage carries an interest rate of 10 percent. The amount owed on the mortgage after the first payment will be
A) $2,520,000.
B) $2,517,900.
C) $2,499,000.
D) $2,496,900.

Thayer Company Purchased a Building on January 2 by Signing