The Bainters want to compare the costs of renting a home to the costs of owning a home before considering the other factors. Keep in mind that the Bainters anticipate that they will live in the area...

Extracted text: The Bainters want to compare the costs of renting a home to the costs of owning a home before considering the other factors. Keep in mind that the Bainters anticipate that they will live in the area for a minimum of 15 years. 1. How does the cost of renting for a year compare to the cost of owning for a year? 2. Does one option seem better than the other based on the cost estimates alone? Why? Your two answers should include • the estimated annual cost of owning a home (refer to the calculations that you wrote down previously for the project) • the estimated cost for renting after 1 year, 5 years, 10 years, and 15 years • a comparison for each of the 4 time frames between the annual cost of renting versus owning your explanation of which option (renting or owning) seems better based only on the cost estimates, and why