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?
A) $200.00
B) $9,533.52
C) $11,760.00
D) $2,226.48

Question

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?
A) $200.00 
B) $9,533.52 
C) $11,760.00 
D) $2,226.48

Quizplus · Accepted Answer

The Answer of 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?
A) $200.00 
B) $9,533.52 
C) $11,760.00 
D) $2,226.48

On January 1,2013,Thames Company Purchases Property and Signs a 6-Year