Math

what is $16,000 at 5% interest amortized over 16 months

  1. 👍 0
  2. 👎 0
  3. 👁 142
  1. What are the monthly payments?

    1. 👍 0
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    A $15,000 debt is to be amortized in 12 equal semiannual payments at 5.5% interest per half-year on the unpaid balance. Construct an amortization table to determine the unpaid balance after two payments have been made. Round

    asked by Katelyn on December 11, 2012
  2. Accounting

    Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in accrued interest. The bond interest rate is 8% and interest is paid semi-annually. The journal entry to record the receipt of interest on the next

    asked by Mike on June 9, 2013
  3. Finance

    16. Your firm is trying to determine its cash disbursements for the next two months (June and July). In any month, the firm makes purchases of 60% of that month’s sales, which are paid the following month. In addition, the firm

    asked by Hannah on November 2, 2009
  4. Finance

    The prince Albert Corporation has forecasted the following sales for the first seven months Jan $10,000 Feb 12,000 Mar 14,000 April 20,000 May 10,000 June 16,000 July 18,000 Monthly material purchase are set to 30 % of forecasted

    asked by Raana on April 5, 2009
  5. wcc

    Andres Michael bought a new boat. He took out a loan for $23,880 at 4.25% interest for 2 years. He made a $4,000 partial payment at 2 months and another partial payment of $3,000 at 8 months. How much is due at maturity? (Do not

    asked by gislb on February 17, 2015
  1. Math

    Sarah secured a bank loan of $200,000 for the purchase of a house. The mortgage is to be amortized through monthly payments for a term of 15 yr, with interest rate of 6%/year compounded monthly on the unpaid balance. She plans to

    asked by Sara on May 15, 2012
  2. math

    The Sandersons are planning to refinance their home. The outstanding principal on their original loan is $100,000 and was to amortized in 240 equal monthly installments at an interest rate of 11%/year compounded monthly. The new

    asked by Anonymous on September 23, 2014
  3. accounting

    Ignoring income taxes compute the amount of loss, if any, to be recognized by Banno as a result of retiring the $900,000 of bonds in 2007 and prepare the journal entry to record the retirement. On January 2, 2002, Banno

    asked by laxer22 on September 23, 2008
  4. UAB

    a store manager obtained a loan of 25,000, at 6 3/8 % interest, for 15 months to purchase supplies. Find the amount of the simple interest.

    asked by ashton on April 3, 2016
  5. MATH

    Harold took out a 4-year amortized loan for $22,000 at 10% to pay his tuition at a technical institute. After 1 year, he refinanced the unpaid balance of $17,291 at a 6% interest rate. (All interest rates are annual interest

    asked by Anonymous on April 22, 2017
  6. math answer check please

    . Richard Simons is selling his house. He has a choice of taking $125,000 today or $135,000 in 6 months. If he takes the money today, he can invest it at Valley Bank at 5% interest compounded monthly. c. (1 point) How much would

    asked by Lynda on December 2, 2013

You can view more similar questions or ask a new question.