Question: help please Problem 9-1 Comparing Renting and Buying (LO9-2] Rental Costs Annual rent Insurance Security deposit $8,319 2118 1,640 Buying Costs Annual mortgage payments Property

help please Problem 9-1 Comparing Renting and Buying (LO9-2] Rental Costs

help please

Problem 9-1 Comparing Renting and Buying (LO9-2] Rental Costs Annual rent Insurance Security deposit $8,319 2118 1,640 Buying Costs Annual mortgage payments Property taxes Insurance/maintenance Down payment/closing costs Growth in equity Estimated annual appreciation $19,55 ($9,628 is interest) 2,000 1,989 4,500 922 2,000 Assume an after-tax savings Interest rate of 6 percent and a tax rate of 28 percent. (a) Calculate the total rental cost and total buying cost. (Round your Intermedlate calculations and final answers to the nearest whole number.) Total Cost Rental cost Buying cost (b) Based on the cost criteria, would you recommend buying or renting? O Renting Buying

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