Question: Lila is purchasing property worth $1,480,000 with a down payment of $296,000 and semi-annual payments at the end of every six months for 30 years.

Lila is purchasing property worth $1,480,000 with a down payment of $296,000 and semi-annual payments at the end of every six months for 30 years. If the interest rate of 3.03% compounded quarterly for the 30 years: (a) What is the amount of each payment? Round the answer to the nearest cent. P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $ (b) What is the cost of financing? Round the answer to the nearest cent. Cost of financing = $ (enter a positive value)

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