Please help me with this
2 answers:
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Answer:
Final cost = £779
Step-by-step explanation:
It is given that:
Cost of summer holiday = £650
Amount increased by 11%
Increased cost = 11% of 650
Increased cost =
Increased cost = 0.11 * 650 = £71.50
Amount after increment = 650 + 71.50 = £721.50
Further increase = 8%
Amount = 0.08 * 721.50 = £57.72
Final cost = 721.50 + 57.72 = £779.22
Thus,
Final cost = £779
Answer:
Part A:
Rent = $7380
Mortgage payments = $9800
Insurance = $145
Taxes, insurance, maintenance = = $2830
Loss of Interest on security deposit = (650*6%) = $39
Interest lost on down payment and closing cost = (4,500*6%) = $270
Growth in equity = $225
Annual appreciation = $1700
Tax savings for mortgage interest = (9,575*28%) = $2,681
Tax savings for property taxes = (1,780*28%) = $498
Total rental cost = dollars
Total buying costs = dollars
Part B:
You should consider rent because the cost of renting is less than the cost of buying.