Based on the following data, calculate the items requested: Rental Costs Annual rent Insurance Security deposit $ 7,880 $ 195 $ 900 Rental cost Buying cost Buying Costs Annual mortgage payments Property taxes b. Would you recommend buying or renting? O Renting O Buying Down payment/closing costs Growth in equity Insurance/maintenance Estimated annual appreciation Assume an after-tax savings interest rate of 8 percent and a tax rate of 30 percent. Assume this individual has other tax deductions that exceed the standard deduction amount. $ 10,800 (9,825 is interest) $ 1,980 $ 5,500 $975 a. Calculate total rental cost and total buying cost. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) $ 1,550 $ 2,200

Based on the following data, calculate the items requested: Assume an after-tax savings interest rate of 8 percent and a tax rate of 30 percent. Assume this individual has other tax deductions that exceed the standard deduction amount. o. Calculate total rental cost and total buying cost. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) b. Would you recommend buying or renting? Renting Buying Based on the following data, calculate the items requested: Assume an after-tax savings interest rate of 8 percent and a tax rate of 30 percent. Assume this individual has other tax deductions that exceed the standard deduction amount. o. Calculate total rental cost and total buying cost. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) b. Would you recommend buying or renting? Renting Buying