Based on the information in the image, which plan would be best (have the highest net value in 10 years) and what would the net value for each be?

Case Study "is owning a home a net gain or a net loss over time?" Purchasing a house is probably the largest single financial decisions any average person will have to make. Financing is one of the most important consideration when buying a house, and each one will make his/her choice based on their different circumstances The Smith family have to decide if purchasing a house is the best choice for their family, or they should consider renting over the next 10 years. The available financing plans are provided in the table below: Plan Description A 30-year with 5.25% per year interest, 10% down payment LB 15-year with 5% per year interest, 10% down payment Rent at $2000/month Other information: v Price of the house is $200,000. House will be sold in 10 years for $230,000 (net proceeds after selling expenses). Taxes and insurance (T&l) are $350 per month. Amount available: maximum of $40,000 for down payment and other expenses. New loan expenses: origination fee of 1%, appraisal fee $350, survey fee $200, attorney's fee $300, processing fee $400; escrow fees $100, other costs $300. (i) on saved money is 0.5%/month Allowance for rent is $2300