Joey is about to renew the mortgage on his home and understands that it is much cheaper to make his mortgage payments as frequently as possible. He is considering four possible interest rate offers....

Joey is about to renew the mortgage on his home and understands that it is much cheaper to make his mortgage payments as frequently as possible. He is considering four possible interest rate offers. Which would be the most beneficial offer to a borrower like Joey? 7.50% compounded monthly 7.50% compounded annually 7.50% compounded daily 7.50% compounded semi -annually