Question

John will have to make 180 monthly mortgage payments and the first payment was made on January 15,1989.If he makes one payment each month,in what year will John make his last payment?

Answer 1

1989 + (180/12) - 1 = ?

Answer 2

2003

Answer 3

[AI-generated answer — Explain Bot]

To find the year when John will make his last mortgage payment, we can start by determining how many years are covered by the 180 monthly payments.

Since there are 12 months in a year, we can divide the total number of payments (180) by 12 to get the number of years:
180 payments / 12 payments per year = 15 years

Next, we need to add 15 years to the starting year of the mortgage, which is 1989.

1989 + 15 = 2004

Therefore, John will make his last mortgage payment in the year 2004.