Problem $9-1$ Comparing Renting and Buying $[$LO$9-1]$ Rental Costs Annual rent $ $8,210$ Insurance $235$ Security deposit $1,600$ Buying Costs Annual mortgage payments $ $10,540($$ $9,656$ is interest$)$ Property taxes $1800$ Insurance, maintenance $1,700$ Down payment, closing costs $4,500$ Growth in equity $844$ stimated annual appreciation $2000$ Assume an after$-$tax savings interest rate of $5$ percent and a tax rate of $28$ percent. Calculate the total rental cost and total buying cost.