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?

  1. 👍 0
  2. 👎 0
  3. 👁 106
  1. 1989 + (180/12) - 1 = ?

  2. 2003

    1. 👍 0
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. MATH

    Levi would like to use a credit card to make a $3000 purchase. He is considering two credit options. The first requires a down payment of $1000 followed by monthly payments of $125. The second requires a down payment of $1300

    asked by Romero on April 16, 2020
  2. Finite Math

    Five years ago, Diane secured a bank loan of $370,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 10% per year compounded monthly on the

    asked by Micaela on December 6, 2018
  3. 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

    asked by Anonymous on August 31, 2016
  4. math

    The Taylors have purchased a $290,000 house. They made an initial down payment of $10,000 and secured a mortgage with interest charged at the rate of 10%/year on the unpaid balance. Interest computations are made at the end of

    asked by rere on April 11, 2017
  1. Financial

    You need a 30-year, fixed-rate mortgage to buy a new home for $235,000. Your mortgage bank will lend you the money at an APR of 5.35 percent for this 360-month loan. However, you can afford monthly payments of only $925, so you

    asked by Wawa on November 6, 2018
  2. business finance

    Stacy took out a loan for $15,000. Her note was for 300 days at 5% ordinary interest. On day 100 she made a partial payment of $5,000. On day 200 she made a second payment of $5,000. On day 250 she made yet a third payment of

    asked by karly on November 27, 2016
  3. Finance

    You take out a 30-year $100,000 mortgage loan with an APR of 6 percent and monthly payments. In 12 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan? I am working this on the

    asked by Antoinette on March 18, 2007
  4. 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?

    asked by Grace on August 8, 2012
  1. consumer math grade 12

    jesse buys a 150 000 house and will make a 30 000 down payment the bank will charge him an interest rate of 5% with the mortgage amoritized over 15 years determine the monthly mortgage payment

    asked by jodi jerome on April 18, 2010
  2. math help please

    Sue Stitch buys a sewing machine. The price, including tax, is $575.00. She finances the sewing machine over 24 months after making a $25 down payment. The true annual interest rate is 15%. What are Sue's monthly payments

    asked by Anonymous on June 17, 2015
  3. Math

    The Johnsons have accumulated a nest egg of $27,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have

    asked by Joe on October 1, 2013
  4. Math and Society

    You can afford monthly payments of $1200. If current mortgage rates are 7.5% for a 30-year fixed rate loan, what loan principal can you afford? If you are required to make a 20% down payment and you have cash on hand to do it,

    asked by Michele on November 8, 2008

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