Assignment 2. E.J. just got a job from a research entity related to Purdue University. She is now considering whether to rent an apartment or to purchase a house. Because you are a sincere friend of E.J., she asked you which is the better choice. Here are some conditions: A. [Renting information] If it is a rent, E.J. wants to seek: (a) monthly payment as much as $1,200; {b} monthly renters insurance will be normally $9.00; (c) generally, most of apartment in Greater Lafayette area request the security deposit as much as $500; and {d} E.J. has a saving account at Purdue Federal Credit Union as much as $40,000 (See the interest rate of Purdue Federal: httgswww.purduefed.com[Resources[lnformationzRatesZDeposit- Rates} B. [House information] If it is a case of purchasing a house, E.J. considers this conditions: (a) house price as much as $160,000; CSR342 2022 SP {b} she may pay for the down payment as much as 20% of the price because she has 540,000 in her savings account; (c) she is now considering 2 points paid (consult: htt s: bettermone habits.bankofamerica.com en home-ownershi bu in -mort a e- points-Iower-rateL {d} closing costs are estimated as much as 4% of the house price (consult: https:[wawjnvestopedia.comlmortgagelmortgage-guidefclosing-costsL (e) E.J. has a good credit score as much as 750, therefore the APR of mortgage is now estimated as 3.5% for 20 years payment; (f) she is considering to have 20-years mortgage; (g) Annual property tax in Greater Lafayette is assumed to be same as the average rate with all other areas in Indiana (= 0.81%; {h} homeowners insurance premium is normally $30 per a month in Greater Lafayette area; (i) several houses that E.J. was visiting recently were 10 - 15 yea rs old, therefore the repairing/maintenance expenses were following the average costs (consult: https:(wawamfam.comzresourcesZarticlesat-homefaverage-home-maintenance-costs); (j) annual percentage increase in home value was known to be 3.5%; {k} standard deduction for federal income taxes will be following the general (consult: htt s: smartasset.com taxes standard-deduction} and E.J. is single underg {I} E.J. will itemize deductions for federal income tax; and (m) E.J.'s marginal tax rate is 20%. [1] Compare the rent an apartment and the purchase of a house [no words limit] 0 To compare the cases, utilize the excel file on Brightspace (Excel WorkSheet 6.5}. 0 You don't need to worry puting the exact numbers for each cell because this assignment does not require the correct answer. 0 The purpose of the assignment is to let you practice actual calculation for your future life. [2] Give g advice to E.J. with your sincere thoughts [at least 100 words]. 0 I will evaluate your sincere working on the advice