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Question: rod has a 150000 mortgage at amortized over 21 years...

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  1. Rod has a $150,000 mortgage at (2)-6 amortized over 21 years. When making his 22nd payment, Rod decided to double the size of just that one payment. His 23rd payment was back to the regular level. By making that extra large payment, how much interest did Rod save on his mortgage?
  2. Jacinta has a $140,000 mortgage at (12) = 12% amortized over 25 years. When making her 28th payment, Jacinta decided to double the size of just that one payment. Her 29th payment was back to the regular level. By making that extra large payment, how much interest did Jacinta save on her mortgage? Answer: Approximately 19,204.69
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