After putting

$20,000

down on a piece of property, a man began paying

$500

a month for ten years. Given an interest rate of

8%

compounded monthly, how much would the property cost if the man had paid for it in cash?

After putting $20,000 down on a piece of property, a man began paying $500 a month for ten years. Given an interest rate of 8% compounded monthly, how much would the property cost if the man had paid for it in cash