Suppose you want to borrow $220,000 to purchase a house. two banks, wells fargo and bank of america, are willing to lend you the money. both banks will amortize the loan over 30 years and the payments will be monthly. wells fargo will lend you the money at 4.5% with 0.5 points. bank of america will lend you the money at 4.25% but will charge 2 points. i. which banks should you choose if the loan is refinanced in 5 years? ii. which bank should you choose if the loan is refinanced in 20 years? iii. what is the apr on the bank of america loan if the loan is refinanced in 20 years.