Annual rental payment

Monthly payment of loan b, rounded to the nearest cent

10. Rent versus buy analysis - Part 2 Which Is Better: To Rent or To Buy? The decision of whether to rent or buy housing is a personal decision that is based on both your lifestyle and your finances. While most financial experts argue that the financial aspect of the decision is important, it is also important not to base your rent-or-buy decision solely on the numbers. Your personal needs and housing market conditions are important. However, it is still necessary to perform the financial analysis. Megan and her husband are trying to decide whether to rent or to purchase a new condominium. After looking for several months, they've narrowed their choice down to one particular unit, and the builder is willing to lease or sell-depending upon the preference of the buyer. To perform a rent-or-buy analysis, Megan and her husband have collected the following information: • If they rent, the builder will require monthly rental payments of $1,100 and a security deposit equal to two months of…

What is the principal loan balance after 7th monthly amortization payment?