Math
posted by Grace .
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?
Respond to this Question
Similar Questions

Finance
Consider the following scenario: John buys a house for $150,000 and takes out a five year adjustable rate mortgage with a beginning rate of 6%. He makes annual payments rather than monthly payments. Unfortunately for John, interest … 
Finance
Dave takes out a 30year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 16.8 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 68th payment, … 
accounting
3. On December 1, year 1, Newton Corporation incurs a 15year $300,000 mortgage liability in conjunction with the acquisition of an office building. This mortgage is payable in monthly installments of $3,600, which include interest … 
Math
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? 
finance
You decide to buy a new home for $101000.00 at 7.5% interest rate. You feel that you can afford $800.00 for a mortgage payment. You make a down payment of $10000.00 How much will you still owe after making payments for one year. Show … 
Finance
Audrey Sanborn has just arranged to purchase a $550,000 vacation home in the Bahamas with a 20 percent down payment. The mortgage has a 6.1 percent stated annual interest rate, compounded monthly, and calls for equal monthly payments … 
MATH
Dave takes out a 24year mortgage of 210,000 dollars for his new house. Dave gets an interest rate of 13.2 present compounded monthly. He agreed to make equal monthly payment, the first coming in one month. After making the 68th payment, … 
Maths
Dave takes out a 27year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 14.4 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 70th payment, … 
Math
Dave takes out a 23year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 13.2 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 65th payment, … 
Math
Dave takes out a 24year mortgage of 290000 dollars for his new house. Dave gets an interest rate of 14.4 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 68th payment, …