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A property was purchased for $9924.00 down and payments of $782.00 at the end of every year for 8 years. Interest is 3% per annum
A property was purchased for $9924.00 down and payments of $782.00 at the end of every year for 8 years. Interest is 3% 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 $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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