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A property was purchased for $ 9 4 9 3 . 0 0 down and payments of $ 1 2 4 0 . 0 0

A property was purchased for $9493.00 down and payments of $1240.00 at the end of every year for 6 years. Interest is 9% per annum compounded quarterly. What was the purchase price of the property? How much is the cost of financing?

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