Problem 9-1 Comparing Renting and Buying [LO9-2] Rental Costs Buying Costs $10,770$9, 616 is interest) Annual rent $7,930 Annual mortgage payments 2,560 Insurance 196 Property taxes Insurance/maintenance Security deposit 1,050 1,770 Down payment/closing costs Growth in equity Estimated annual appreciation 4,500 1,154 3,000 Assume an after-tax savings interest rate of 6 percent and a tax rate of 28 percent. (a) Calculate the total rental cost and total buying cost. (Round your intermediate calculations and final answers to the nearest whole number.) Total Cost Rental cost Buying cost