Comparing Renting and Buying. Based on the following data, would you recommend buying or renting? Rental Costs Buying Costs Annual rent, $$7,380$ Insurance, $$145$ Security deposit, $$650$ Annual mortgage payments, $$9,800($$$9,575$ is interest$)$ Property taxes, $$1,780$ Insurance$/$maintenance$,$ $$1,050$ Down payment$/$closing costs, $$4,500$ Growth in equity, $$225$ Estimated annual appreciation, $$1,700$ Assume an after$-$tax savings interest rate of $6$ percent and a tax rate of $28$ percent.