costs: purchase price, $92400; down payment, $2700; mortgage payment, $540.00 per month ( $6480 per year, of which $5369 is interest in the first year); property tax, $1170; homeowner's insurance, $450; repairs and maintenance, $450; closing costs, $1800. The annual increase in the condo's value is estimated at 4 percent. She earns 1 percent on her savings account after tax, her marginal tax rate is 25 percent, and she does not itemize deductions. What is Jennifer's total first-year cost of buying? You may find it helpful to use Excel Worksheet 6.5 to answer this question. $7650 $13095 $4807 $8288