A property was purchased for $4298.00 down and payments of $1073.00 at the end of every threemonths

for 5 years. Interest is 9% per annum compounded monthly. What was the purchase price of the property? How much is the cost offinancing?

Question content area bottom

Part 1

The purchase price of the property was ?

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Part 2

The cost of financing is ?

Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.).