You are going to buy a house for $170,000 and have decided to put 20% down you have two options for financing option one is a 30 year 7% loan for closing cost of $1500 plus 1.5 points option two is a 6.5% 30 year loan with closing cost of $2000 and three points evaluate both options and answer the following question if you live in the house for 30 years how much will you have paid for the house including entrance assuming you take the best option?