Based on the following data, would you recommend buying or renting?

Rental Costs

Annual rent $ $7,530$

Insurance $ $160$

Security deposit $ $725$

Buying Costs

Annual mortgage payments $ $10,100($$$9,650$ is interest$)$

Property taxes $ $1,840$

Down payment and closing costs $ $4,800$

Growth in equity $ $450$

Insurance and maintenance $ $1,200$

Estimated annual appreciation $ $1,850$

Assume an after$-$tax savings interest rate of $5$ percent and a tax rate of $26$ percent. Assume this individual has other tax deductions that exceed the standard deduction amount.

Calculate total rental cost and total buying cost.

Note: Round your intermediate calculations and final answers to the nearest whole dollar.

Would you recommend buying or renting?