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Based on the following data, calculate the items requested: Rental Costs Annual rent Insurance Security deposit $ 7,980 $ 205 $ 950 Buying Costs Annual
Based on the following data, calculate the items requested: Rental Costs Annual rent Insurance Security deposit $ 7,980 $ 205 $ 950 Buying Costs Annual mortgage payments Property taxes Down payment/closing costs Growth in equity Insurance/maintenance Estimated annual appreciation Rental cost Buying cost $ 10,700 (9,875 is interest) $ 2,020 $ 5,400 $825 $1,650 $ 2,300 Assume an after-tax savings interest rate of 6 percent and a tax rate of 28 percent. Assume this individual has other tax deductions that exceed the standard deduction amount. a. Calculate total rental cost and total buying cost. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.)
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