The home for sale is listed at $150,000.00. They have $30,000.00 for a down payment and are qualified for a fixed rate 30-year m
ortgage with an annual interest rate of 4.2%. The rental home is currently $900.00 per month, with rent expected to increase approximately $75.00 every 4 years.
What is the total first-year cost when renting the home?
a. 10,800.00
b. 11,400.00
c. 11,200.00
d. 900.00
