Homework: Chapter 5 Homework Save Score: 0 of 1 pt 1 of 4 (0 complete) HW Score: 0%, 0 of 4 pts P 5-19 (similar to) Question Help CE You are buying a house and the mortgage company offers to let you pay a "point" (1.0% of the total amount of the loan) to reduce your APR from 5.99% to 5.73% on your $407,000, 30-year mortgage with monthly payments. If you plan to be in the house for at least five years, should you do it? (Note: Be careful not to round any intermediate steps less than six decimal places.) The monthly mortgage payment at 5.98% APR is $(Round to the nearest cent) Incorr Question Viewer Star