A property was purchased for

$7767.00

down and payments of

$871.00

at the end of every

year

for

10

years. Interest is

6%

per annum compounded

semi-annually.

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

The purchase price of the property was

$nothing.

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

The cost of financing is

$nothing.

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