Calculate the total interest paid on a loan with the following terms.

Loan is $1,000,000.

There is an initial teaser rate of 1.5%,

The index equals 2.0%, 2.5%, 3.15%, 3.85%, 5.0% for years beginning 1-5, respectively.

The margin or spread is 3%.

There is an annual cap of 2% and a lifetime cap of 7.5%.