Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Discover reliable solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.
Sagot :
Answer:
correct option is b. $2,508
Step-by-step explanation:
given data
for rent deposit = $1,500
rent = $865 per month
time = 4 year
mortgage payment = $844
to find out
How much would her closing costs need to order for the cost to buy to same as cost to rent
solution
first we get here Total payment by monthly payment for 4 year rent is
Total payment = $865 × 4 year × 12 months
Total payment for rent = $41520
and so the total amount pay in rent is
total amount pay in rent = Amount deposited + Total payment ..............1
total amount pay in rent = $1500 + $41520
total amount pay in rent = $43020
and
now we get total payment by monthly payment for 4 year when buy
total payment = $844 × 4 year × 12 months
total payment for buy = $40512
and now we consider here closing costs for buying = x
so
total amount pay in buy = total payment + closing costs ..............2
total amount pay in buy = $40512 + x
so here cost to buy to be same as cost to rent so
$40512 + x = $43020
x = $2508
so here closing costs will be $2508
so correct option is b. $2,508
:
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.