Question: lake claims that he can buy a $210,000 for about the same as his rent, and therefore he should definitely buy because he has heard

lake claims that he can buy a $210,000 for about the same as his rent, and therefore he should definitely buy because he has heard that "renting is bad". Help him walk through this argument. a. Calculate Jake's monthly mortgage payment for a $210,000 house. b. Compare this payment to his current rent. c. Calculate the other expenses of home ownership each month, as outlined above (taxes, insurance, maintenance, and PMI). d. Discuss with Jake the total amount that he must spend each month to buy the $210,000 house. How does this the total monthly cost of the home compare to the rent on his current apartment? f. Is Jake's argument that he should buy because it costs the same as rent correct? f9

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