Hassan wants to buy a new car that will cost $12,000. He will make a down payment in the amount of $4,000. He would like to borrow the remainder from a bank at an interest rate of 12% compounded monthly. He agrees to make monthly payments for a period of two years in order to pay off the loan. Hassan has made 16 payments and wants to figure out the remaining balance immediately after the 16^th payment. What is that remaining balance?

		A(P/A, 1%, 8).
		8A.
		10,000-8A
		A(P/A, 1%, 1)/8.