A property was purchased for $4768.00 down and payments of $882.00 at the end of every year for 7 years. Interest is 9 % per annum compounded monthly. What was the purchase price of the property? How much is the cost of financing?

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12-08-2024
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A property was purchased for $4768.00 down and payments of $882.00 at the end of every year for 7 years. Interest is 9 % per annum compounded monthly. What was the purchase price of the property? How much is the cost of financing?

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