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 6.11% to 5.86% on your $427,000, 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.) Question content area bottom Part 1 The monthly mortgage payment at 6.11% APR is $enter your response here . (Round to the nearest cent.) Part 2 The monthly mortgage payment at 5.86% APR is $enter your response here . (Round to the nearest cent.) Part 3 The lower interest rate on the mortgage results in monthly savings of $enter your response here . (Round to the nearest cent.) Part 4 The PV of the monthly savings is $enter your response here . (Round to the nearest cent.) Part 5 The balance of the mortgage at the end of five years at 6.11% APR is $enter your response here . (Round to the nearest cent.) Part 6 The balance of the mortgage at the end of five years at 5.86% APR is $enter your response here . (Round to the nearest cent.) Part 7 The principal reduction due to the lower interest rate is $enter your response here . (Round to the nearest cent.) Part 8 The PV of the principal reduction is $enter your response here . (Round to the nearest cent.) Part 9 The net benefit or cost is $enter your response here . (Round to the nearest cent.) Part 10 The net benefit is negative positive ; therefore, you should should not pay the point.