Use the spreadsheets from Sections 7-4 and 7-6 to compare the following two situations after a 7-year period.

Total amount paid and total amount paid to principal for a $370,000, 20-year mortgage with an APR of 4.15% Total amount paid for a $2,600 monthly rent that has an annual increase of 2%

Data From section 7-6

Ethel rented an apartment from a landlord in Sullivan County. Her rent was $1,200 per month until she moved out last week. The new tenants pay $1,350 per month. Represent the rent increase as a percent, to the nearest tenth of a percent.