Most graduate students face the prospect of moving elsewhere following graduation, either due to familial reasons, professional choices, or simply by choice. Suppose you have sufficient funds to cover a $20\%$ down payment for a home that you liked. The goal of this assignment is for you to calculate whether buying or renting is financially preferable. The assumptions and answers should be unique for everyone. Please follow the following steps.

Do an online search and find a home that you like that is for sale. Provide info and a photo for your chosen home.

Assume you have funds to cover $20\%$ of the sale price, and the remaining $80\%$ will be financed through a $30-$year mortgage.

Check current mortgage rates and pick a reasonable APR value for a fixed$-$rate loan.

Calculate your monthly payments for the duration of the loan.

Suppose you are moving elsewhere in $2$ years time, and you will be able to sell your home at a $5\%$ discount relative to the price that you bought as you cannot wait for long for its sale.

Your monthly payments include principal and interest. Calculate the amount of principal and interest you paid back over $24$ months.

Use Present Worth analysis and Equivalent Annual Worth analysis techniques to decide whether you are better off renting or purchasing a home for the next $2$ years.