You plan to purchase a house for $175,000 using a 10 -year mortgage obtained from your local bank. You will make a down payment of 20 percent of the purchase price. You will not pay off the mortgage early. Your bank offers you the following two options for payment. Option 1: Mortgage rate of 7.75 percent and zero points. Option 2: Mortgage rate of 7.5 percent and 3 points (l.e., 3% of the loan amount). Which option should you choose and why? Option 2 is the better choice. The present value of the monthly savings, $9,566.41, from choosing Option 2 is greater than the money paid for it up front, $4,200. Option 1 is the better choice. The present value of the monthly savings, $1,352.79, from choosing Option 2 is less than the money paid for it up front, $4,200. Option 2 is the better choice. The present value of the monthly savings, $5,566.48, from choosing Option 2 is greater than the money paid for it up front, $4,200. Option 2 is the better choice. The present value of the monthly savings, $6,226.05, from choosing Option 2 is greater than the money paid for it up front, $4,200. Option 1 is the better choice. The present value of the monthly savings, $2,198.40, from choosing Option 2 is less than the money paid for it up front, $4,200. Option 1 is the better choice. The present value of the monthly savings, $1,543.71, from choosing Option 2 is less than the money paid for it up front, $4,200