es Based on the following data, calculate the items requested: Rental Costs Annual rent Insurance Security deposit $ 8,230 $ 230 $ 1,075 Rental cost Buying cost Buying Costs Annual mortgage payments Property taxes Assume an after-tax savings interest rate of 7 percent and a tax rate of 32 percent. Assume this individual has other tax deductions that exceed the standard deduction amount. b. Would you recommend buying or renting? O Renting O Buying Down payment/closing costs Growth in equity Insurance/maintenance Estimated annual appreciation a. Calculate total rental cost and total buying cost. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) $ 10,450 (10,000 is interest) $ 2,120 $ 5,150 $ 450 $ 1,900 $ 2,550

Based on the following data, calculate the items requested: Assume an after-tax savings interest rate of 7 percent and a tax rate of 32 percent. Assume this individual has other tax deductions that exceed the standard deduction amount. a. Calculate total rental cost and total buying cost. (Do not round intermediote colculations. Round your answers to the neorest whole dollor.) b. Would you recommend buying or renting? Renting Buying