Suppose a dairy farmer obtained a $100,000 loan to buy creamery equipment on June 1, 2016. There was no down payment, and the loan is payable over 5 years in equal payments of $20,000 due on June 1st each year (first payment June 1, 2017), with the remaining balance due at the end of the loan term. The annual interest rate is 5%.

Businesses often need to compute the amount of accrued interest payable as of the date of a financial statement, such as a balance sheet. Approximately how much accrued interest would this loan contribute to the dairy farmers year-end balance sheet for 2016?