Question: Ordinary General Annuities - Finding the FV. Please do these correctly as a lot of times in the past experts have answered it wrong and
Ordinary General Annuities - Finding the FV. Please do these correctly as a lot of times in the past experts have answered it wrong and I still did not understand the concept. :)
A property was purchased for $7448.00 down and payments of $902.00 at the end of every six months for 10 years. Interest is 4% per annum compounded annually. What was the purchase price of the property? How much is the cost of financing? The purchase price of the property was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The cost of financing is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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