Ignoring the time value of money entirely, if you add up all the amounts you wrote on checks for 5 a, what's the total of what you paid for that \$120,000 loan? (Note that in North Carolina there's no penalty for paying off a mortgage early- you just save money on interest by doing so.) Ignoring the time value of money entirely, if you add up all the amounts you wrote on checks for 5 a, what's the total of what you paid for that \$120,000 loan? (Note that in North Carolina there's no penalty for paying off a mortgage early- you just save money on interest by doing so.)