Financial Information: Purchase: Purchase price: $$730,000.$ Strata maintenance fee $($monthly$)$: $$511$ Property tax $($monthly$)$: $$150($approximate$)$ Heat $($monthly$)$: $$50$ Repair and general maintenance $($monthly$)$: $$50$ Assume those monthly fees do not change over next $5$ years. Down payment at $20\%$ of purchase price. Obtain a mortgage the rest of $80\%.$ Legal fee $($One time when buy and sell$)$: $$1,500.$ Inspection fee $($One time when buy$)$: $$400.$ Property transfer tax $($One time when buy$)$: $$12,980.$ Mortgage: $5-$year fixed mortgage rate: $4\mathrm{.}80\%$ with $25$ years amortization with monthly payments GDS$/$TDS Ratios: $39\%/44\%$ Selling cost: Realtor fees $($One time when sell$)$: Assume it would cost $3\mathrm{.}25\%$ of selling price. Rent: Monthly rental: $$3,600$ comparable unit. Assume rent increases $3\%$ yearly over $5$ years. using qualititative and quantitative options, calculate and explain the buy or rent decisions. Also use time value of money concept in details looking at the cash flow in the future