Time value of money is 6%

The planning horizon is 15 years

Calculate the present worth for "buy" and for " rent" separately on excel and please show what you typed in excel

Given Information: Buy Rent Cost $500,000 Down Payment: 10% of cost Initial Payment Security Deposit: $3,500 Monthly Payments Rent: $2,500 (increases by 3% per year) Mortgage: 15-year fixed 4% interest / year compounded monthly End of month payment (End of month payment) SO Insurance (annual) $400 (increases by 1.5% per year). Assume beginning of the year payments Given Information: Buy Rent Cost $500,000 Down Payment: 10% of cost Initial Payment Security Deposit: $3,500 Monthly Payments Rent: $2,500 (increases by 3% per year) Mortgage: 15-year fixed 4% interest / year compounded monthly End of month payment (End of month payment) SO Insurance (annual) $400 (increases by 1.5% per year). Assume beginning of the year payments