Emma Jones is planning to move to Oxford, MS to start her new job at a real estate firm. She has not yet decided whether she wants to rent or buy a property in Oxford. Emma is not from Mississippi and is asking your team to help her make this financial decision. Her monthly housing budget is $1,400. This budget must cover housing expenses including rent or owners costs (example: mortgage, hazard insurance, property taxes, and Home Owner Association fees, if any). A good start of the analysis is to apply financial concepts such as the time value of money.