Hello,

Can you help with the below?

12. Comparing Renting and Buying: Based on the following data, would you recommend buying or renting? Assume an after-tax savings interest rate of 6 percent and a tax rate of 28 percent. (Round off your answers to the nearest dollar amounts)

Rental Costs Buying Costs

Annual rent, $7,380 Annual mortgage payments, $9,800 ($9,575 is interest) Insurance, $145 Property taxes, $1,780 Security deposit, $650 Insurance/maintenance, $1,050 Down payment/closing costs, $4,500

A: NOTE: First solve/input for the following line items to get your total costs for Rental & Buying before providing your recommended answer. Rental Costs

Annual rent, A: Insurance, A: Interest lost on security deposit, A:

Total rental costs = A:

Buying Costs

Annual mortgage payments, A: Property taxes, A: Insurance/maintenance, A: Interest lost on down payment closing costs, A: Less: Growth in equity, A: Estimated annual appreciation, A:

Total buying costs = A:

A: