a. Calculate the total rental cost and total buying cost Rental cost Buying cost Total Cost b. Based on the cost criteria, would you recommend buying or renting? Rental Costs Annual rent Insurance Security deposit Buying Costs Annual mortgage payments Property taxes Insurance, maintenance $ 7,520 196 1,440 $ 9,960 ($ 9,578 is interest) 1,970 1,750 4,500 382 2,500 Down payment, closing costs Growth in equity Estimated annual appreciation Assume an after-tax savings interest rate of 8 percent and a tax rate of 28 percent.