Question: A real estate developer bought land for $170 000.00 down and monthly payments of $10 450.00 for 5 years. You want to calculate what is

A real estate developer bought land for $170 000.00 down and monthly payments of $10 450.00 for 5 years. You want to calculate what is the equivalent cash price if money is worth 7.75% compounded semi-annually? Find p (the equivalent rate of Interest per payment period) tion Select one: O a. 0.0047353 b. 0.0064340 C. 0.0063565 d. 0.004986 e. 0.0416244

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