In August 2021, John Potter got a job in Baton Rouge, LA. Since he did not know the city, he decided to rent a house for $1,500.00 per month. Utilities, gas, internet, and tv were not included in his rent. The next month, the owner of the house that he rented, gave him the option to buy the house for $320,000.00 or keep renting it for $1,500.00. He then decided to analyze his options financially as the market had one of the lowest interest rates in a long time. If John decided to buy the house, he would have to pay for a few things that he does not have to pay while renting. Those things are HOA, which is another $80.00 per month, property taxes of $320.00 per month, and repairs would vary, but he estimated it would be another $100.00 per month. He called his bank to understand his options and interest rates. The bank said that according to his credit score, John had to provide a 3% down payment, and he could finance the remaining value. His mortgage would be at a 3.75% APR. This would be for a 30-year loan, with fixed monthly payments. If John