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A property was purchased for $6880.00 down and payments of $840.00 at the end of...

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A property was purchased for $6880.00 down and payments of $840.00 at the end of every month for 8 years. Interest is 5% 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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