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Based on the following data, what is the cost of buying? Assume an after-tax savings interest rate of 7% and a tax rate of 28%.

Based on the following data, what is the cost of buying? Assume an after-tax savings interest rate of 7% and a tax rate of 28%.

Annual mortgage payments $9400 ($8750 is interest)

Property taxes $1640

Insurance/maintenance $975

Down payment/closing costs $4800

Growth in equity $215

Estimated annual appreciation $1450

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