I chose to move to Atlanta Georgia, where the average rent is $$1,925.$ The average house costs $$360$k to purchase. Decide to either rent or purchase in the new neighborhood. You need to locate an area you would want to move to and do the following:

Renting

a$.$ Determine average monthly rent.

b$.$ Assume a $5\%$ discount rate.

c$.$ Assume rent will increase $$50$ per month each year.

d$.$ Assume you will rent for $15$ years.

$2.$ Purchasing

a$.$ Determine average home sale price.

b$.$ Assume payments for $15$ years.

c$.$ Assume $5\%$ interest

Requirements:

$1.$ Identify the location you will be moving to$.$

$2.$ Explain the averages for both renting and purchasing.

$3.$ Calculate the present value for both renting and purchasing.

$4.$ Select whether you would choose to rent or purchase.

$5.$ Support your decision of either renting or purchasing.