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A property was purchased for $6291.00 down and payments of $878.00 at the end of every six months for 7 years. Interest is 10% per

A property was purchased for $6291.00 down and payments of $878.00 at the end of every six months for 7 years. Interest is 10% per annum compounded annually. What was the purchase price of the property? How much is the cost of financing?

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