f$)$ If you round your monthly payments up to the nearest thousand dollars, how many payments will you need to make? $($i$.$e$.$ $$2252$ rounds to $$3000$; $$898$ rounds to $$1000)$

$$1,514\mathrm{.}03$ rounded up $=$ $$2000\mathrm{.}00$

PMT$=$$$2,000$ PV$=$$$250,665\mathrm{.}00$ PY$=12$ CY$=2$ I$/$Y$=5\mathrm{.}39\%$ N$=?$

CPT N$=183\mathrm{.}56=184$ payments

g$)$ What will be the final payment to settle the mortgage if payments are rounded in $($f$)?$

P$1=184$

P$2=184$

Balance $=$ $$876\mathrm{.}24$

$$2000-$ $$876\mathrm{.}24=$ $$1,123\mathrm{.}76($Last payment$)$

h$)$ How much interest will you pay in total over the life of your mortgage based on the rounded payments in $($f$)?$

PMT$=2,000$ x $183($payments$)=$ $$366,000+$ $$1,123\mathrm{.}76=$ $$367,123\mathrm{.}76$ $$367,123\mathrm{.}76-$ $$250,665\mathrm{.}00=$ $$116,458\mathrm{.}76($interest$)$

i$)$ How much interest will you pay in total during the first $10$ years of your mortgage based on the rounded payments in $($f$)?$

N$=10$x$12=120$

PMT$=$ $$2,000$

I$=5\mathrm{.}39\%$

PY$=12$

CY$=2$

PV$?=$ $$185,701\mathrm{.}56$

$$2000$ x $(10$x $12)120($times$)=$ $$240,000$

$$240,000-$ $$185,701\mathrm{.}56=$ $$54,298\mathrm{.}44($interest$)$

j$)$ How much interest will the rounded payments in $($f$)$ save you during the first $10$ years of the mortgage?

k$)$ How much interest will the rounded payments in $($f$)$ save you over the life of the mortgage?

l$)$ How much sooner will your mortgage be paid off by making the rounded payments in $($f$)?$

$300(25$x$12)184($rounded payments$)=116$ times $/12=9\mathrm{.}67$ years rounded up $=9\mathrm{.}7$ years