Crowley Corporation Purchased a Building on January 2 by Signing

Crowley Corporation purchased a building on January 2 by signing a long-term $600,000 mortgage with monthly payments of $5,500. The mortgage carries an interest rate of 10 percent. The amount owed on the mortgage at the end of the first month will be

A) $600,000.
B) $599,500.
C) $595,000.
D) $594,500.