1. You want to purchase your dream house that costs $1,000,000. You have $300,000 in savings (your down payment), and you plan to take a mortgage for 30 years. The mortgage is paid quarterly with an APR of 5.6 percent. What would your periodic payment be? (a) $48,696.95 (b) $28,735.93 (c) $4,018.55 (d) $12,077.27