16,000 * 0.05 = 800
(800/12) * 16 = ?
What is the interest payment on $16,000 at 5% interest amortized over 16 months with $1,000 payment per month
2 answers
This question puzzles me
If you owe $16,000 and your payments are $1000 a month for 16 months, there would be not interest at all.
If you owe $16,000 and your payments are $1000 a month for 16 months, there would be not interest at all.