Given the Information Here, What Is the Annual Cost of Owning

question 68

Multiple Choice

Given the information here, what is the annual cost of owning? $\begin{array}{c}\begin{array}{l}\text{* Home value}\\\text{* Annual mortgage payments}\\\text{* Annual property taxes}\\\text{* Annual homeowner's insurance}\\\text{* Estimated maintenance and repairs}\\\text{* Growth in equity}\\\text{* Tax savings (mortgage interest and property tax) }\\\text{* Estimate annual appreciation}\\\end{array}\begin{array}{c}\$ 300,000 \\\$ 19,200 \\\$ 4,800 \\\$ 1,200\\1 \% \text{of home value}\\\$ 3,000\\\$2,800\\1.5 \% \text { of home value }\\\end{array}\end{array}$

• A) $17,900
• B) $28,200
• C) $38,500
• D) $300,000
• E) $338,500

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