On January 1, 2013, Thames Company purchases property and signs a 6-year mortgage note for $60,000 at 4%. Please see the partial amortization schedule below. 
For the year 2013, what will be the total interest expense recorded by Thames Company for this mortgage?
Definitions:
IEC Standard
IEC standard refers to the technical standards for electrical, electronic, and related technologies as defined by the International Electrotechnical Commission.
Identifiers
Labels, names, or symbols used to uniquely identify objects, variables, or elements in a system or database.
Single-Phase
Refers to an electrical power system that uses only two conductors through which electrical current flows, providing a single, consistent alternating current (AC).
Auxiliary
Additional or secondary equipment or subsystems designed to support the main system in performing its functions.
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