3. Here is a table followed by two advertisements - one for a home to rent and one for a home to purchase. a) Complete the table. If there is not payments required for a particular spot, put n/a (not applicable) in that spot. For any mortgage calculations, assume a 25- year amortization, 7% interest, and an original principal of $130 000. [10 marks] b) Describe two advantages of selecting the "rental" option and two advantages of selecting the "purchase" option. [4 marks] House for rent 3-bedroom house, ranch style, close to schools, 1400 sq. ft. above ground swimming pool, 2 bathrooms, paved drive, large deck, $1150/month + gas heat. First and last + $250 security required. House for sale 3-bedroom, 2 % baths, renovated kitchen, 1450 sq. ft. finished basement with gas fireplace, CIA, 2-car garage, $174 000. Taxes approx. $175/month Dantel Drehova CURARAR women. Expense Rental Purchase Rent amount n/a Mortgage payments Estimated heating costs Estimated other costs $140 $180 $120 Property taxes Upfront or closing costs $48 000 $100 Estimated maintenance costs Estimated total monthly costs 3. Here is a table followed by two advertisements - one for a home to rent and one for a home to purchase. a) Complete the table. If there is not payments required for a particular spot, put n/a (not applicable) in that spot. For any mortgage calculations, assume a 25- year amortization, 7% interest, and an original principal of $130 000. [10 marks] b) Describe two advantages of selecting the "rental" option and two advantages of selecting the "purchase" option. [4 marks] House for rent 3-bedroom house, ranch style, close to schools, 1400 sq. ft. above ground swimming pool, 2 bathrooms, paved drive, large deck, $1150/month + gas heat. First and last + $250 security required. House for sale 3-bedroom, 2 % baths, renovated kitchen, 1450 sq. ft. finished basement with gas fireplace, CIA, 2-car garage, $174 000. Taxes approx. $175/month Dantel Drehova CURARAR women. Expense Rental Purchase Rent amount n/a Mortgage payments Estimated heating costs Estimated other costs $140 $180 $120 Property taxes Upfront or closing costs $48 000 $100 Estimated maintenance costs Estimated total monthly costs