You need a loan of $185,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. Briefly discuss how you would decide between the two choices Choice 1: 30-year fixed rate at 7% with closing costs of $2700 and no points. Choice 2: 30-year foxed rate at 6.5% with closing costs of $2700 and 5 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 Clear All Check Answer 5 parts remaining