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c. You are comparing houses in two houses in Milwaukee. You have $200,000 to put as a down payment, and 30 -year mortgage rates are

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c. You are comparing houses in two houses in Milwaukee. You have $200,000 to put as a down payment, and 30 -year mortgage rates are at 8%. The houses are roughly equivalent. i. Estimate the total payments (mortgage and property taxes) you would have on each house for each year. Which one is less expensive? ii. Are mortgage payments and property taxes directly comparable? Why or why not? iii. If property taxes are expected to grow 2% a year forever, which house is less expensive

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