Business, 31.07.2019 16:00 ny01282005

Mika wants to buy a condominium. he has the choice of buying it now or renting it with the option to buy at the end of 3 years. if he buys now, he could put $0 down, but he must pay closing costs of $7,100. his monthly mortgage payment will be $675. mika decides to rent instead of buy because it is the cheapest option over the first 3 years. his move-in costs are one month's rent and a $750 security deposit, and he would still need to pay his first month's rent on top of these move-in costs. to the nearest dollar, what is the maximum amount of monthly rent payment he could pay?

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Mika wants to buy a condominium. he has the choice of buying it now or renting it with the option to...

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