Aleisha wants to buy a condominium. She has the choice of buying it now or renting it with the option to buy at the end of 4 years. If she rents now, she must pay a deposit of $1,500 and pay rent of $865 per month. If she buys, she would need closing costs and her mortgage payment would be $844. How much would her closing costs need to be in order for the cost to buy to be the same as the cost to rent?

a.

$4,008

b.

$2,508

c.

$1,521

d.

$1,008

Question

Aleisha wants to buy a condominium. She has the choice of buying it now or renting it with the option to buy at the end of 4 years. If she rents now, she must pay a deposit of $1,500 and pay rent of $865 per month. If she buys, she would need closing costs and her mortgage payment would be $844. How much would her closing costs need to be in order for the cost to buy to be the same as the cost to rent?




a. 

$4,008 


b. 

$2,508 


c. 

$1,521 


d. 

$1,008

anonymous · Answer

do you know this stuff?