You plan to purchase an $195,000 house using a 30 -year mortgage obtained from your local bank. You will need to make a down payment of 20% of the offer price. No prepayment. Option1: The mortgage rate offered is 5.5 and zero points Option 2: The mortgage rate offered is 5.35 and 1.5 points Your bank offers you two options. Ultimately we want to know which is better and why, but let's break this down. Calculate the monthly PMT under Option 1. (Keep track of this as you will use this in the next several questions) round to 2 decimals