Question: A real estate developer bought land for $170,000.00 down and monthly payments of $10,450.00 for 5 years. What is the sale price for the land

A real estate developer bought land for $170,000.00 down and monthly payments of $10,450.00 for 5 years. What is the sale price for the land if interest on the financed portion was 7.75% compounded semi-annually?

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