Rental CostsBuying CostsAnnual rent$8,120Annual mortgage payments$9,800($9,611 is interest)Insurance220Property taxes2,500Security deposit1,360Insurance/maintenance1,780Down payment/closing costs4,500Growth in equity189Estimated annual appreciation2,000

Assume an after-tax savings interest rate of 4 percent and a tax rate of28 percent.

(a)Calculate thetotal rental cost and total buying cost.(Round your intermediate calculations and final answers to the nearest whole number.)

Check my work 1 4 Rental Costs Buying Costs ($9,611 is Annual rent $8,129 Annual mortgage payments $9'Seeinterest) Insurance 226 Property taxes 2,586 Security deposit 1,369 Insurancefmaintenance 1,786 7 Down payment/closing costs 4,596 _ Growth in equity 189 pOIntS Estimated annual appreciation 2,896 I eBook Assume an after-tax savings interest rate of4 percent and a tax rate of 28 percent. Hint (3) Calculate the total rental cost and total buying cost. (Round your intermediate calculations and final answers to the nearest Prim whole number.) was Rental cost _ Buying cost References