Compare renting and buying

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Reference no: EM131156707

Problem 1: Compare Renting and Buying

Rental Costs			Buying Costs
Annual rent	$	7,380	Annual mortgage payments	$	9,800	($9,575 is interest)
Insurance	$	145	Property taxes	$	1,780
Security deposit	$	650	Insurance/maintenance	$	1,050
			Down payment/closing costs	$	4,500
			Growth in equity	$	225
			Estimated annual appreciation	$	1,700

Reference no: EM131156707

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