Do the Math $9-3$

Rent Versus Buy month for private mortgage insurance. He is in the $25$ percent marginal tax bracket. Interest in your intermediate calculations to four decimal places. Round your answer to the nearest cent.

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b$.$ How much interest would Alex pay during the first year of the loan? Round your answer to the nearest cent.

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c$.$ Use the Run the Numbers worksheet, "Should You Buy or Rent?" to determine whether Alex would be better off buying or renting.

On the basis of net cost, Alex would be better off