please answer all questions using Microsoft word or excel. NO HANDWRITING Wanda

Question

please answer all questions using Microsoft word or excel. NO HANDWRITING

Wanda Owens at edu/courses/18889/assignm Available 16 Jun at 0:00-20 Jun at 23:59 5 days The goal of this assignment is to help you when making a decision in acquiring your future dwelling. Step 1: Identify a home in your area (or wherever you'd like to live). Step 2: Based on the price of the home, determine how much it would cost you on a monthly basis to purchase that home. Your payment will consist of Principal, Interest, Taxes, and Insurance (PITI) Note: Use current 30-year interest rates: Assume 5%-10% downpayment: The insurance" in the PITI is not property coverage, it is insurance to protect the n lender in case you default on the loan Step 3: Identify a comparable rented space and compare that cost to the tudent monthly cost in Step 2 Step 4: Submit the comparison in an Excel spreadsheet or Word file. You may also submit supporting documentation to identify your sources. Lil TOSHIBA F10 3 45617Y 8A90 0

Explanation / Answer

Comparison between the acquired and rented home: Head of cost Acquired home Rented home acquisition principal acquisition of the home ie. the basic price No such cost as no acquisition acquisition interest Interest is paid out when principal is paid in installments No such cost taxes taxes on both acquisition and interest costs taxes are paid on rent costs insurance Insurance is paid to secure lender No insurance costs Rent No rental cost Rent is paid out towards usage of premises

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