The smiths took out a 30 year mortgage. how many monthly payments will they make on this mortgage

Question

asked Jul 4, 2020 49.2k views

1 Answer

JoeNCA · Answer 1 · 2020-07-09T08:00:15+0000

Answer:

360 monthly payments

Explanation:

A single payment will be required every month to pay the mortgage.This will continue for 30 years.

Mathematically;

1 payment every month

1year=12 months

30 years=?

Cross -multiply

30×12=360 monthly payments