A 25-year fixed-rate mortgage has monthly payments of 717 per month and a mortgage interest rate of 6.14 per cent per year compounded monthly.

Required:

If a buyer purchases a home with the cash proceeds of the mortgage loan plus an additional 20 per cent deposit, what is the purchase price of the home? (Do not include the euro sign (). Round your answer to 2 decimal places (e.g., 32.16).)

Purchase price