Compare the following two loans and answer the following 2 questions. Loan Option 1: $183,000;5.50%;30 years with 1.5 points Loan Option 2: $183,000;6.50%;30 years with no points If you chose the loan option with the points, how long would it take for you to break even? 25 months 25 years 37 months 37 years Question 16 5 pts You have liability coverage of 60/125/45 which costs you $290 per year. The book value of your car is $2,500. The annual cost for collision coverage is $230 with a $1500 deductible. Assume you had a collision which was your fault and your car was totally destroyed, but you were not hurt. Your insurance company writes you a check for the car. What is the dollar amount of the check? $1,000 $1,500 $2,500 $2,000