Homework: Week 4 Homework Save score: 0 of 1 pt 70115 (7 complete) HW Score: 14.61%, 2.19 of 15 pts 4.D.43 Question Help Consider the following pair of loan options for a $125,000 mortgage. Calculate the monthly payment and total closing costs for each option. Explain which is the better option and why Choice 1: 15-year fixed rate at 5.5% with closing costs of $1600 and 1 point. Choice 2:15-year fixed rate at 5.25% with closing costs of $1600 and 2 points. What is the monthly payment for choice 1? (Do not round until the final answer Then round to the nearest cent as needed ) Enter your answer in the answer box and then click Check Answer 5 Pemiaining re to search