John and Carol were so happy when they bought their house 2 years ago. They got a mortgage for $250,000 at 4.5% interest with monthly payments (at the end of each month) of $1,266.72 for 30 years (360 months). They were approached the other day by a financial planner who told them they could save a lot of interest on their loan and pay it off faster if they increased their monthly payment by a small amount. He suggested increasing the payment by $100 per month. Each remaining payment would be $1,366.72. Right now they have made payments for exactly 2 years (24 months), and could implement this plan without refinancing costs right away. During which month would the final payment now be made (round up)? How much interest over the life-time of the loan would John and Carol save with this plan? Repeat these calculations assuming an extra $200 per month (payment of $1,466.72)