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A property was purchased for $7640.00 down and payments of $867.00 at the end of every six months for 10 years. Interest is 6% per

A property was purchased for

$7640.00

down and payments of

$867.00

at the end of every

six months

for

10

years. Interest is

6%

per annum compounded

quarterly.

What was the purchase price of the property? How much is the cost of financing?

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