On March 1,2016,Mandau Services Issued a 3% Long-Term Notes Payable

On March 1,2016,Mandau Services issued a 3% 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 1,2017.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 Mandau will make on March 1,2017?

A) $5,000
B) $5,450
C) $15,000
D) $5,225