You need a loan of ?$140 comma 000 to buy a home. Calculate yourmonthly payments and total closing costs for each choice below.Briefly discuss how you would decide between the two choices.Choice? 1: 15?-year fixed rate at 7?% with closing costs of ?$1400and no points. Choice? 2: 15?-year fixed rate at 6.5?% with closingcosts of ?$1400 and 3 points. What is the monthly payment forchoice? 1? ?$ what ?(Do not round until the final answer. Thenround to the nearest cent as? needed
