Rental Costs Annual rent Insurance Security deposit $7,520 196 1,440 Buying Costs Annual mortgage payments Property taxes Insurance/maintenance Down payment/closing costs Growth in equity Estimated annual appreciation $9,960 ($9,578 is interest) 1,970 1,750 4,500 382 2,500 Assume an after-tax savings interest rate of 8 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 cont Buying cost (b) Based on the cost criteria, would you recommend buying or renting? Buying Renting Rental Costs Annual rent Insurance Security deposit $7,520 196 1,440 Buying Costs Annual mortgage payments Property taxes Insurance/maintenance Down payment/closing costs Growth in equity Estimated annual appreciation $9,960 ($9,578 is interest) 1,970 1,750 4,500 382 2,500 Assume an after-tax savings interest rate of 8 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 cont Buying cost (b) Based on the cost criteria, would you recommend buying or renting? Buying Renting