Karen Peters bought their neighbor's farm for $400 000.00 down and payments of $57 100.00 at

the beginning of every six months for 7 years. What is the purchase price of the farm if the

semi-annual payments are deferred for four years and interest is 5.5% compounded

semi-annually?

Select one:

a. $928 128.51

b. $942 652.05

c. $1477 883.33

d. $921 124.22

e. $1255 990.53