MAT 146: Contemporary College Math (4206_BOZ2) Homework: HOMEWORK - Section 4 Score: 0 of 1 pt .D.41 You need a loan of $145,000 to buy a home. Calculate your monthly payments and total c Choice 1: 20-year fixed rate at 6% with closing costs of $2500 and no points. Choice 2: 20-year fixed rate at 5.5% with closing costs of $2500 and 3 points. What is the monthly payment for choice 1? $ 1038.83 (Do not round until the final answer. Then round to the nearest cent as needed.) What is the monthly payment for choice 2? $1,015 (Do not round until the final answer. Then round to the nearest cent as needed.)