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Consider a fully amortizing mortgage loan in the amount of $1,000,000 at 6.00$ for a term of 30 years. What is the periodic payment if
Consider a fully amortizing mortgage loan in the amount of $1,000,000 at 6.00$ for a term of 30 years. What is the periodic payment if the loan payments are made: 1a. Annually? 1b. Quarterly? 1c. Monthly? 1d. Weekly? 2. How much total interest is paid over the life of the loan in each case? 3. Which payment frequency accrues (and costs) the most in interest, and why
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