Given: Sales Price $$350,000$

Marginal Tax Rate $30\%$

Property Taxes $($Monthly$)200$

Insurance $($Monthly$)50$

Cost to Rent an Apt. $1,000$

Down Payment $20\%$

Mortgage Interest Rate $7\mathrm{.}5\%$

Amortization Period $30$ yrs$.$

What are the financial implications of buying a home given the above data? Calculate on a monthly basis. $($Hint: What is the after$-$tax cost of buying the home compared to renting the apt?$)$

Please show work