Rental Costs

Annual rent $ $7,380$

Insurance $145$

Security deposit $650$

Buying Costs

Annual mortgage payments $ $9,800($$ $9,575$ is interest$)$

Property taxes $1,780$

Insurance, maintenance $1,050$

Down payment, closing costs $4,500$

Growth in equity $225$

Estimated annual appreciation $1,700$

Assume an after$-$tax savings interest rate of $6$ percent and a tax rate of $28$ percent.

Calculate the total rental cost and total buying cost.